The gross value of foreign trade to and from the Shanghai Pilot Free Trade Zone grew by 5.9 percent last year.
Foreign trade involving companies in the Zone now represents 27.3 percent of the city's total. Releasing the statistics, the free zone authority said they highlight the importance of the Zone to Shanghai.
In 2016, there was an increase in the number of companies registering with Shanghai Customs – 73.4 percent, or 18,755 companies, it said.
The Zone has introduced a number of initiatives to support international trade, including the Shanghai Entry-Exit Quarantine and Inspection Bureau. Many of these measures, having been piloted in Shanghai, are now being replicated by other free trade zones across China.
The Shanghai Pilot Free Trade Zone was created in 2013 and offers companies a number of tax preferences. It comprises a bonded area, high-tech park, financial area, and an export processing zone.
By Courtesy of Lowtax