Shanghai has launched a new initiative to expand the China (Shanghai) Pilot Free Trade Zone (FTZ) through the establishment of "linked innovation zones" across the city.
The zones are specialized areas that focus on different sectors of the economy, aiming to replicate the successes of the FTZ while fostering new opportunities.
The effort aims to drive economic growth and innovation across various districts in Shanghai, Chen Yanfeng, deputy director of the city's development and reform commission, told a press briefing on Thursday.
The new zones cover multiple districts, each with its own strategic focus.
In Huangpu District, the zone spans about 14 square kilometers, including the landmark Bund, People's Square, Huaihai Road and Xintiandi. The area is set to become a hub for financial services and import trade. Initiatives include the recognition of overseas financial qualifications, expansion of financing channels for tech companies, and piloting new models for bonded exhibition and trade.
In Xuhui District, the zone covers around 45 square kilometers, encompassing major areas like Xujiahui, the West Bund, and the Caohejing High-Tech Park. The focus here is on artificial intelligence, the digital economy, and the commercialization of technological advancements. Efforts are being made to integrate AI with industry, develop a digital economy ecosystem, and ensure safe and efficient cross-border data flows.
Hongkou District's zone covers about 4 square kilometers on the North Bund. It focuses on high-end shipping and financial services, with plans to develop green shipping industries, attract international talent specializing in sustainable practices, and explore innovative financial products.
Yangpu District's zone spans 23 square kilometers and targets technology innovation and the online new economy. The area includes the GKIC (Great Knowledge and Innovation Community) and the Yangpu waterfront. Key initiatives involve promoting high-level innovation platforms, facilitating cross-border technology transfers, and fostering digital trade development.
Minhang District's zone covers 46 square kilometers and emphasizes international trade and high-end intelligent manufacturing. It includes parts of the Hongqiao international central business district and the "Grand Neo Bay" science and technology innovation area. The zone aims to boost the capabilities of bonded logistics, promote advanced manufacturing, and support cross-regional industrial cooperation.
Suburban Baoshan District, with a 50-square-kilometer zone, focuses on the cruise economy and green supply chains. The zone includes the Shanghai International Cruise Tourism Resort and the core functional area for green, low-carbon supply chains. It aims to innovate cruise port customs procedures, enhance public service platforms for green supply chains, and strengthen the local carbon finance system.
In addition to the district-specific zones, Shanghai has also established linked innovation zones in six comprehensive bonded areas outside the main FTZ.
These zones, totaling about 11 square kilometers, focus on improving cross-border trade facilitation and developing new foreign trade models. Key efforts include supporting the growth of cross-border e-commerce, expanding "bonded+" business models, and enhancing customs supervision.
The creation of the zones reflects Shanghai's commitment to driving economic growth through targeted innovation and trade facilitation, Chen said.
By focusing on specific industries and sectors in each zone, the city aims to strengthen its position as a global economic hub while fostering sustainable and high-quality development.
