Shanghai to expand its Free Trade Zone to boost economy

Shanghai is drafting plans for an expansion of its Free Trade Zone (FTZ). The expansion is one of the city government’s top priorities for the first quarter.

Following the expansion, more companies will be given preferential policies to conduct offshore trading, offshore financing and digital trading under attractive termsTo boost high-quality growth of the local economy, the city will also help quality companies nationwide list with the planned technology innovation board on the Shanghai Stock Exchange, while fostering local innovation-driven startups. Shanghai wil also further improve its business environment by considerably lowering taxes and fees. 

Shanghai’s mayor Ying said to the Shanghai Daily: “Shanghai is the country’s largest economic center and is at the forefront of reform and opening-up.” “We must give top priority to sustaining growth as we focus on doing our own work as well as possible,” he added. 

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