Shanghai FTZ Reforms May Include New Port
by Lorys Charalambous, Lowtax.net, Cyprus
28 March, 2017
The China (Shanghai) Pilot Free Trade Zone is to unveil reforms to liberalize regulations governing finance, foreign investment, and trade in the area, and a port may established within the zone.
The Zone, citing a Xinhua report, said that a free trade port will likely be established within the zones to further improve conditions for companies there.
In addition, it is anticipated that barriers for foreign investors concerning company listings and bond financing are also likely to be lowered.
Xinhua quoted Shanghai Vice Mayor Zhou Bo as saying the idea of setting up a free trade port inside the zone is supported by China's Customs Administration. He did not elaborate on what specific initiatives would be implemented, but mentioned there will be two supporting plans on tax reduction, which have been submitted for approval from China's central Government.
The China (Shanghai) Pilot Free Trade Zone was launched on September 29, 2013, and offers companies a number of tax preferences. It comprises a bonded area, high-tech park, financial area, and an export processing zone.
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