Shanghai Free trade zone with great potential

Shanghai Free trade zone with great potential

Shanghai Free trade zone with great potential
 
The China (Shanghai) Pilot Free Trade Zone encompasses four existing bonded trade zones in Shanghai’s Pudong New Area. Shanghai aims to develop them into China’s first free trade zone to facilitate global trade.
 
The Free Trade Zone is a designated area, within which goods are registered but not inspected by customs. This allows the free flow of commodities and services. The Shanghai pilot FTZ covers the Waigaoqiao Free Trade Zone, the Waigaoqiao Free Trade Logistics Park, the Yangshan Free Trade Port Area and the Pudong Airport Comprehensive Free Trade Zone.
 
The bonded trade areas only take up a small fraction of the total landmass of the Shanghai Municipality, but its trade volume surpassed 100 billion US dollars last year. Initial preparations were started 4 years ago, with the establishment of the Shanghai Free Trade Zones Administration.

 

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