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Shanghai FTZ To Open Technology And Innovation Center

by Jason Gorringe, Lowtax.net, London
26 July, 2017

The Shanghai Pilot Free Trade Zone will accelerate construction of a technology and innovation center, and deepen reforms, according to a recent announcement from the city's mayor, Yong Ying.

Ying said construction of the technology and innovation center will focus on building up the Zhangjiang comprehensive national scientific center, a technology park located in the Pudong district of Shanghai, which forms part of the Zone. Ying also said the city government will construct a research and development platform and encourage mass entrepreneurship.

On the further proposed reforms for the Zone, Ying emphasized that these should be aligned more closely to Shanghai's economic reforms, and construction of the city's international financial center and technology and innovation hub.

The Shanghai Pilot Free Trade Zone was founded in 2013 and offers a number of tax preferences. It comprises a bonded area, high-tech park, financial area, and an export processing zone.

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