Yangshan Phase II passes acceptance test
Phase II of the Yangshan Free Trade Zone has passed the acceptance test, local customs said on Thursday.
The entrance, monitoring equipment and other basic construction in the around 8-square-kilometer area were checked on Wednesday by the local authorities, including the development and reform commission, commerce commission and market supervision bureau.
Phase I has been in operation since May last year and the zone has now reached a total of around 25 square kilometers.
The establishment is important for more companies in the zone to be supported by preferential policies and enhance their international competitiveness, the customs said.
Twenty projects for the zone were signed by companies on the same day, including China COSCO Shipping Co, China Molybdenum Co and China Master Logistic Co, involving around 10.5 billion yuan (US$1.6 billion).
The construction plan for Phase Ⅲ of the zone will be placed on the agenda soon, said Zhu Zhisong, executive deputy director of the Lingang Special Area Administrative Committee.