October 31, 2017

Shanghai to build a free trade port according the highest international standards

Since the approval of the construction of the Free Trade Port in March, Shanghai has been aiming to build the port with the highest degree of openness.

According to the State Council, the management of the FTP must be executed in line with the highest international standard under close supervision of state-authorized intensive management system.

The State Council also directed that the FTP should be set up in Yangshan bonded port area and Pudong International Airport bonded area, for the two places fit the international mainstream standard of docking port and airport to save time and costs.

The combination of Yangshan Port and Pudong Air Port can maximize Shanghai’s role as an international shipping hub. Yangshan Port reported 15.66 million container throughput in 2016.

Zhu Min, deputy director of Shanghai Development and Reform Commission, said Shanghai Free Trade Port will boast the highest level of openness worldwide but the strictest management.