TARIFF FREE ZONE BENEFITS CULTURAL TRADE

TARIFF FREE ZONE BENEFITS CULTURAL TRADE

TARIFF FREE ZONE BENEFITS CULTURAL TRADE
 
Six more companies have signed up with a trade platform in the city that was set up to promote Chinese culture to other countries. The media companies signed contracts with the Shanghai International Cultural Service and Trade Platform on Wednesday. The platform is based in the Waigaoqiao Free Trade Zone, allowing its partners to import goods to the zone without paying any tariffs. 
 
That makes it much cheaper to put on exhibitions and art auctions. It also set up a duty free warehouse that companies can store imported equipment and art works in without being taxed. One film export company says that is a huge benefit."The duty free warehousing here provides us things like equipment, materials and art works from overseas without charging tariffs. 
 
That helps to cut costs by more than 50 percent for our film editing department," said Zhang Yu of China Arts & Entertainment Group. The company that opperates the platform says it also offers other services. "Besides helping to cut costs for companies, our platform also helps them register copyrights overseas, market events internaionally, and hold bonded exhibitions. 
 
We also offer funding to Chinese companies that are looking to expand globally," said Zhu Yongcun of Shanghai Jinwen Investment Company.To date, a total of 61 companies have joined the platform since it was set up three years ago. And cultural promotion officials from Shanghai say the platform actually helps to reduce China's cultural trade deficit. 
 
Although nationwide figures show that China now spends about twice as much bringing foreign shows and artworks into the country as the outside world spends importing Chinese events and cultural goods. Shanghai is the only city in the country that exports more than it imports. 

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