Aerial photo taken on Oct. 24, 2019 shows a view of the new Lingang area of the China (Shanghai) Pilot Free Trade Zone in Shanghai, east China. (Xinhua/Ding Ting)
BEIJING, Dec. 21 (Xinhua) -- The administrative committee of Lingang area of Shanghai Free Trade Zone (FTZ) recently rolled out 24 implementation rules jointly with local authorities on promoting the high-quality development of offshore trade in the area, reported the Xinhua-run Shanghai Securities News recently.
The Lingang area vows to strengthen the coordinated development of onshore and offshore trade, accelerate the construction of an offshore commodity trade zone, and strive to build an important hub of the global industrial chain, supply chain and value chain.
To attract more leading business entities to settle in the area, a certain amount of incentives will be given to enterprises with an annual operating income of more than 300 million yuan and an annual economic contribution of more than 10 million yuan for the area.
While optimizing the business review process of the banking industry, the Lingang area will also improve the construction of new infrastructure for offshore trade, such as the production service system for offshore trade, to provide enterprises with better services.
Meanwhile, the Lingang area proposes to join hands with the competent authorities to innovate the supervision related to offshore trade and provide reliable government services for talent introduction and business environment optimization.
As the forefront of China's national strategy and reform and opening-up, by far, the Lingang area has witnessed hundreds of well-known enterprises from home and abroad settle here, and the numbers of enterprises carrying offshore trade and the scale of the transaction have doubled compared with the same period of last year. (Edited by Jiang Feifan with Xinhua Silk Road, 346129473@qq.com)
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