As revealed during a regular session in Shanghai, the FTZ will complete three major institutional innovations in July, including establishing a service platform for overseas investment, setting up international transit consolidation services and promoting national trade centers of imported goods.

Service platform for overseas investment

The Shanghai FTZ plans to establish a platform integrating financing, insurance and consulting to provide comprehensive services for overseas investments of enterprises in July.

The platform will function both online and offline, and provide comprehensive services such as establishing and closing of businesses.

It will also draw in the services of social organizations such as intermediary agencies, trade associations, accounting firms and law firms. Enterprises can refer to this platform based on individual needs. Meanwhile, the bidding mode will match better for enterprises and service providers to help enterprises gain quality services at reasonable prices.

International transit consolidation service

International transit consolidation service is an important index to evaluate the operational capability of an international hub port. Based on the customs policy of “entrance first, clearance later,” the Shanghai FTZ will simplify the departure record filing process and carry out classified reporting on segments and goods entering the FTZ.

To date, Shanghai customs has chosen two pilot enterprises in the Waigaoqiao Bonded Logistic Park and Yangshan Free Trade Port Area to start trial operations in July.

National exhibition and trade centers

In addition to the Australian National Exhibition & Trading Center, which opened in June, the administration of the FTZ has signed contracts with more national trade centers such as Russia, Thailand and New Zealand. National centers of Italy and Poland are also progressing. Meanwhile, the administration has plans to launch a special regulation for establishing national trade centers in the FTZ.