An Overview of Lin-gang Special Area of China (Shanghai) Pilot Free Trade Zone
With approval by the CPC Central Committee and the State Council, Lin-gang Special Area of China (Shanghai) Pilot Free Trade Zone (hereinafter referred to as Lin-gang Special Area) is set south of Dazhi River and south of Pudong Airport. Under the principle of “overall planning and step-by-step implementation”, the development of Lin-gang Special Area is to start with Nanhui New Town, Lin-gang Equipment Industrial Zone, Xiaoyangshan Island and the southern part of Shanghai Pudong International Airport, etc.
The establishment of Lin-gang Area is an important strategic deployment for further opening up made by the CPC Central Committee with Comrade Xi Jinping at its core from a big-picture perspective and scientific outlook on decision-making. It’s an important measure to show China's strong commitment to all-round openness in the new era and to actively lead the healthy development of economic globalization.
Lin-gang Special Area is located in the southeast of Shanghai, with Shanghai Pudong International Airport on its north and Yangshan International Port on its south. It is an important node on Shanghai Coastal Thoroughfare. Waterways, air routes, railways, highways, inland rivers and subway constitute a very convenient integrated transportation system, which is a big advantage of Lin-gang Special Area.
According to the overall requirements and development goals to promote all-round opening-up on a higher level and with great efforts, by 2025, Lin-gang Special Area will establish a relatively institutional system featuring the liberalization and facilitation of investment and trade, set up functional platforms with higher openness, and enabled the area to become a business cluster world-class enterprises. The innovation and competitiveness of Lin-gang Special Area will have been improved, and the economic strength and aggregate surged. By 2035, Lin-gang Special Area will have been constructed into a special economic functional area with strong with strong global market influence and competitiveness, fostered more mature institutions, build the core function to allocate the worldwide high-end resources, and become an important platform for China to integrate into economic globalization.
Benchmarked against free trade zones which are recognized as the most competitive ones in the world and Based on the opening-up and innovation measures implemented in Shanghai Pilot Free Trade Zone, Lin-gang Special Area will introduce opening-up policies and systems which are competitive in the global market as well as intensified risk and pressure tests for an open economy. Between the Special Area and overseas market, there will be facilitated investment and operation, free import and export of goods, easier flow of funds, open transportation, employment liberalization, and convenient access to information.
Lin-gang Special Area will encourage high-quality international capital to enter public service fields such as education, medical care, elderly care, culture and sports, park construction and urban operation. We will strengthen infrastructure development and management, and enhance high-quality international urban service functions, to build a modern new town featuring openness and innovation, intelligent ecology, integrated urban and industrial development, and an environment suitable to live and work.