Photo taken on Aug. 20, 2019 shows an exterior view of the Lingang area administrative committee in east China's Shanghai.
BEIJING, Aug. 14 (Xinhua) -- Shanghai's Lingang Area, a section of the Shanghai free trade zone (FTZ), has attracted more than 270 billion yuan (about 38.88 billion U.S. dollars) of investment from home and abroad since its launch one year ago.
Lingang has seen 3，580 projects signed with a total investment of about 271.36 billion yuan, and had more than 15,000 new registered enterprises, since its establishment, according to Zhu Zhisong, an official of Shanghai municipal government, at a press conference on Thursday.
In terms of infrastructure construction, six projects have been completed and another three are under construction, with a total investment of about 7.6 billion yuan.
To facilitate its opening-up, the area has also rolled out a total of 107 policies and made progress in the financial reform.
The area has initially established a cross-border financial management system that meets the needs of special economic function zone construction and facilitates fund receipts and payments, according to Li Jun, deputy head of the Shanghai Municipal Financial Regulatory Bureau.
It is reported that more than 20 financial institutions plan to build new office buildings in the area. Banks such as China Construction Bank, Bank of China, and Agricultural Bank of China have set up private equity investment funds here. Eight banks have set up new branches and introduced special financial service plans in the area. (Edited by Hu Pingchao with Xinhua Silk Road, hupingchao@xinhua.org)
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