Shanghai Pudong New Area is planning to establish China’s first free trade zone. This is a national strategy, playing an important role in further catalyzing China’s economic reform and improving the status of Shanghai as an international financial center, international shipping center and international trading center. Now, Pudong needs to carefully study international economic rules and propose constructive implementation plans. Currently, Shanghai Free Trade Zones has adopted a series of reform measures such as international FCL (Full-Container Load) and LCL(Less-Than-Container Load) shipping, bonded vessel registration, pilot tax rebate policy at the departure port, bonded futures delivery, pilot financing and leasing, port supervision model innovation and foreign exchange management model innovation. Shanghai Free Trade Zones strengthens its asset allocation capability and market penetration capability, laying a solid foundation for further exploring the transformation of free trade pilot zones.   

In line with international practices, Pudong is planning to establish the first free trade park in Shanghai Free Trade Zones, improving shipping and trading services. Led by related national and municipal government authorities, Pudong New Area will formulate the overall development plan for the free trade zones. In order to advance the open economy and expand functions as international shipping center and international trade center, the government formulates a series of pilot plans and measures, which specify to innovate foreign exchange management, open service trades and facilitate regional supervision.