Shanghai FTZ Approves Projects To Expand Port Operations
by Lorys Charalambous, Lowtax.net, Cyprus
11 December, 2017
The Shanghai Pilot Free Trade Zone says it has made further inroads towards facilitating high-end shipping operations in Pudong New Area, with the approval of a batch of key shipping projects.
The new projects, endorsed during the city's recent 8th International Shipping Strategic Development Forum, are for a business training platform, and a "Belt and Road" shipping industries investment and financing platform. The Zone will also host the Shanghai Ocean and Energy Industries Development Fund.
The projects are part of China's broader plans to develop high-end shipping in Shanghai, including improving the capacity of its global shipping services, shifting from cargo-oriented resource allocation to comprehensive resource allocation, and changing the port distribution center into a resource distribution center, the zone says.
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