April 29, 2019

Shanghai FTZ lists opening-up achievements

The Shanghai Free Trade Zone has made great achievements in expanding opening-up since its establishment five years ago, according to a recent work meeting on promoting high-quality development of the city.

The achievements are in the following three aspects:

First is the launch of the country’s first negative list of foreign investments.

Secondly, the FTZ has taken two rounds of 54 measures to expand the opening-up in the service and manufacturing industries, which have attracted more than 2,800 enterprises and a batch of foreign-funded startup projects specializing in 40 areas.

Thirdly, the FTZ has introduced 11,000 new foreign-invested enterprises totaling 26.3 billion yuan (US$3.9 billion) of investment.

Hang Yingwei, deputy secretary-general of the Shanghai Municipal Government and head of the Pudong New Area Government, said that the FTZ will accelerate the introduction of foreign-funded start-up projects and deepen the opening-up policy in the telecom, finance and manufacturing industries.

In the next step, the FTZ will continue to promote the joint development of institutional and sci-tech innovations and accelerate the industrialization of scientific innovation results.