Lingang special area celebrates anniversary

SHINE

Lingang can play a special role when it leads and drives industrial upgrading in the domestic economic cycle and improves the efficiency of connections between the domestic and international factor market, a senior government official said on the anniversary of the establishment of the special area of the China (Shanghai) Pilot Free Trade Zone on Thursday.

Zhu Ming, the Shanghai Development and Reform Commission’s deputy director, said Lingang’s mission is to drive domestic industrial upgrading, provide a new driving force for internal circulation, focus on core fields and key links of integrated circuits, artificial intelligence, biological medicine, aerospace and other industries.

The area will also introduce international cutting-edge industrial projects, establish and improve functional industrial policies and systems, deeply integrate in the industrial layout of the Yangtze River Delta region, and drive the advancing process of domestic industries, according to Zhu.

Lingang was included in the Shanghai free trade zone last year as a special area to stand at the forefront of China’s further opening-up.

Institutional innovations were immediately carried out in industrial development, finance, customs supervision, tax, rule of law and human resources in an attempt to build a new free port and engine of China.

In the near future, the special area will also focus on the construction of four industrial parks to serve the development of integrated circuits, life science, large aircraft and information technology. It is estimated that by the end of the year, total investment in the field of integrated circuits alone will exceed 100 billion yuan (US$14.4 billion), Zhu said.

Zhu Zhisong, executive deputy director of the Lingang Special Area Administrative Committee, said that agreements of 358 projects, involving a total investment of 271.3 billion yuan, had been reached since the establishment of the special area on August 20 last year.

At the same time, almost half of the 78 policies and institutional innovations in line with the overall plan for the development of Lingang have been implemented, he said.

From January to July, it is estimated that the investment in fixed assets in Lingang would increase by 32.8 percent from a year ago, the industrial investment would increase by 69.8 percent and the total industrial output value would increase by 26 percent, compared with the same period a year ago.

Since the inception of the special area, 15,115 new enterprises have been established with registered capital exceeding 200 billion yuan.

Zhu Zhisong pointed out that the framework of an open policy system had taken shape and Lingang had made great achievements in eight aspects:

First, the investment liberalization and facilitation system in line with the international rules has been accelerated, and the investment environment has been continuously optimized.

Second, the institutional system of high standard trade liberalization and facilitation has been accelerated to promote the innovative development of Yangshan Special Comprehensive Bonded Zone.

Third is the acceleration of the formation of a financial open and innovative system to promote the freedom of funds, and significantly enhance the service support function for the real economy.

Fourth, a highly open transport freedom system has been formed, and the function of shipping resources gathering and allocation has been continuously improved.

Fifth, the formation of the system of personnel freedom of employment and the open pattern of gathering talent at home and abroad has been accelerated.

Sixth, the layout of international communication infrastructure has been accelerated, and cross-border data connectivity will be upgraded in an all-round way.

Seventh, special tax policies have been gradually implemented, and tax burden has been continuously lowered.

Lastly, the framework of a comprehensive risk management system has been accelerated, while collaborative supervision, linkage of supervision networks and intelligent supervision mechanism have been gradually established.