BEIJING--Shanghaihas submitted its plan on building a free port to authorities, reported the Xinhua-run Economic Information Daily quoting frontline builders and experts. The free port is expected to relax control upon the border trade, which may involve removing or minimizing control over commodities’ entry, doing away with customs declaration or duty payments, and lifting restrictions on entrepot trade. At the same time, some offshore industries, such as international financial leasing, are expected to become a highlight ofShanghai’s free port.
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