In the year of 2019, President Xi Jinping officially announced the launch of a special economic zone in China (hanghai), Lingang New District Free Trade Zone.
The New Free Trade Zone is positioned to be a national strategic project for the Chinese economy further open up to the world.
It's an important measure to show China's strong commitment to all-round openness in the new era and to actively lead the healthy development of economic globalization. Linggang New Distict Free Trade Zone will be the pilot area for China to test innovative public policy, financial policy, which can further open up China market to the world.
Established a relatively liberalized institutional system facilitating cross-boarder trade and investment
Set up functional platforms with more openness to the world business
A cluster of world-class enterprises.
Significantly improve the innovation and competitiveness of Lin-gang Special Area
Became a special economic functional area with strong global market influence and competitiveness
Fostered more mature institutions
Built core functions to allocate worldwide high-end resources
Became an important platform for China to integrate into economic globalization.
The special area is in southeast Shanghai, with Pudong airport to its north and Yangshan International Port to its south. It is an important node of the Shanghai Coastal Thoroughfare. Waterways, air routes, railways, highways, inland rivers and the subway constitute a convenient integrated transport system.
The special zone includes several main infrastructures: the south of Dazhi River, to the east of Jinhui Port as well as in Xiaoyangshan Island(the deep-water port) and the southern section of Pudong International Airport in Shanghai.
Lingang New District Free Trade Zone is a pilot area for China to test innovative talent policy, tax preferential policy, financial policy, custom policy to attract elite domestic and international business to set up its headquarter in Lingang New District.
Lingang New District offer preferential policy to help domestic and international talents to get permanent residence in Shanghai, and to purchase residential property in the special economic zone.
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Tax Preferential Policy：
Lingang New District Free Trade Zone can at least offer 15% VAT Tax Rebate, 8% Income Tax rebate and 8% Profit Tax rebates to the companies registered at the special economic zone.
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The most innovative effort of this special economic zone is its financial policy, which aims to facilitate the cross-boarder free flow of capital and investmet.
As foreign entity, you can 100% completely own a company registered at Lingang Free Trade Zone.
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Custom procedures, such as clearance rules, checking formality, have been simplified. There is no limit storage period in Yangshan Port.
The policies aims to attract companies involvinng large scale shipping and logistic services.
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