China (Shanghai) Pilot Free Trade Zone Unveils New Lin-gang Special Area

The Secretary of the CPC Shanghai Municipal Committee, Mr. Li Qiang unveiled the new Lin-gang Special Area of China (Shanghai) Pilot Free Trade Zone at the Lin-gang office center this morning (August 20). This means that Lin-gang, a fertile area of land that specializes in innovation and entrepreneurship on the coast of the East China Sea, is now in full swing.



Minister of Commerce Department Zhong Shan, Deputy Secretary of the CPC Shanghai Municipal Committee and Mayor Ying Yong delivered speeches and unveiled the management committee of the Lin-gang Special Area of China (Shanghai) Pilot Free Trade Zone.


Following the outline of the Yangtze River Delta Integration Development Plan and the formal opening of the Science and Innovation Board, the overall plan of the Lin-gang special area of Shanghai Pilot Free Trade Zone was officially released and unveiled today, marking the fact that all three major new tasks assigned to Shanghai by General Secretary Xi Jinping have now entered the construction period.



The planning scope of the new Lin-gang Special Area of China (Shanghai) Pilot Free Trade Zone is bordered by the south side of Dazhi river, the east side of Jinhui port, the south side of Xiaoyangshan Island, and Pudong International Airport. According to the principle of “overall planning and step-by-step implementation,” Nanhui new city, Lin-gang equipment industrial zone, Xiaoyangshan Island, the south side of Pudong Airport and other areas, it will cover a total area of 119.5 square kilometers, and will be launched in advance.



The first batch of overseas professionals will soon receive their “Overseas High-Level Talents Certificates”. They are expected to enjoy favorable policies on exit and entry, residence permits and personal income tax.



Lin-gang Special Area, the internationally-recognized, and most competitive of free trade zones, will realize many new features including convenient investment and management systems, free access to goods, streamlined capital flow, highly efficient transport networks, and fast networks linking information between the new area and overseas.



The intention is to create a special economic zone with more influence and competitiveness in the international market, build a livable new city with innovative features, implement wise ecological practices and production integration, and proactively serve and integrate itself into the national strategy to better serve the outside world with it’s modern, state-of-the art strategic layout.



Editor: Bonnie Lu, Tang Jinyuan (Intern)

Source: Knews