June 28, 2019

FTZ to honor second batch of 10 innovative enterprises

This year, the China (Shanghai) Pilot Free Trade Zone will award the second batch of 10 model enterprises of institutional innovation in celebration of the 70th anniversary of the founding of the People’s Republic of China, according to an activity promotion meeting held on June 20.

The model enterprises selection, first held in September 2017, focuses on the innovative achievements made by state-owned, private and foreign-funded enterprises that benefit from the FTZ’s reform and innovation policies.

Wang Hua, deputy director of the Pudong New Area, spoke at the activity promotion meeting. “We hope to demonstrate the reform achievements made by the FTZ in the past six years and further promote high-quality development,” Wang said.

From September 2013 to April 2019, the FTZ has introduced 60,000 new enterprises, 1.6 times the number for the same area 20 years ago. The percentage of foreign-funded enterprises has risen from 5 percent in 2013 to 20 percent.

This year, the FTZ Administration Committee will select 10 model enterprises from 50 entrants based on a series of on-the-spot inspection and experts voting. The result will be released in mid-to-late September.