The expanded area of Shanghai's FTZ in Lingang unveiled
Shanghai Party Secretary Li Qiang announced the establishment of Lingang Special Area of China (Shanghai) Pilot Free Trade Zone this morning, marking the city’s ambition to build the new Lingang area into a special economic function zone with global influence and competitiveness.
The planned scope of the Lingang Special Area is to the south of Dazhi River, east of Jinhui port, and the south side of Xiaoyangshan Island and Pudong International Airport.
The first-stage development will be launched in Nanhui New Town, Lingang equipment industrial zone, Xiaoyangshan Island and the south side of Pudong airport involving an area of 119.5 square kilometers.
The new Lingang area will take the most competitive free trade zones around the world as benchmark to facilitate investment and business operation between Lingang and the international market, offering free access to cargos, convenient flow of funds, highly open transportation, free practice of personnel, fast communication of information to create a special economic function zone with more international market influence and competitiveness.
At the same time, the port town on the shore of the East China Sea will also become a business-friendly and livable modern town featuring innovation, intelligent ecology, integration of industry and urban growth, to serve and integrate into the major national strategy, and better serve the overall strategic layout of opening-up.