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Enlargement of Shanghai Free Trade Zone Confirmed

The State Council announced on 6 August a number of priorities relating to the establishment of the Lingang New Area as an extension to the existing Shanghai Free Trade Zone (FTZ), including the delivery of a global level of competitivity and the successful implementation of the overall opening-up policy across a number of sectors deemed essential for future national development. In particular, it is envisaged that the extended area will focus on sectors where there is substantial global demand that is not being met through any of the existing FTZs or through any other current mainland initiative.

These priorities were detailed in the Reply of the State Council on Agreeing to the Establishment of the Lingang New Area of the China (Shanghai) Pilot Free Trade Zone (Guo Han No. 68 [2019]) and the Overall Plan for the Lingang New Area of the China (Shanghai) Pilot Free Trade Zone.

Initially, the Lingang New Area will extend across 119.5 sq km, including 76.5 sq km in the southern part of the Lingang district, 18.3 sq km of Xiaoyangshan Island and 24.7 sq km to the south of the Pudong International Airport.

Soucre: State Council of China

Content provided by Picture: HKTDC Research
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