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Key policies of Shanghai FTZ launched in 2018 – Part 1

chinadaily.com.cn Updated: 2019-01-21

2018-03: Shanghai Customs Announcement Pilot bonded warehouse business of parallel import of automobiles in the special customs supervision area of the pilot free trade zone.

The warehousing enterprises shall establish a computer management system that meets the requirements of customs supervision, and shall have a vehicle-specific storage space that meets the requirements of customs supervision. 

Before the pilot enterprises conduct business, they must register at the competent commerce department of the Shanghai Customs by presenting the qualification certification of parallel import of automobiles approved by local competent authorities. Pilot enterprises must declare imports to the customs and carry out standard compliance rectification according to regulations.

2018-04: Rules for the Identification of Foreign Core Members of the Top Research Teams in the China (Shanghai) Pilot Free Trade Zone Applying for Permanent Residence in China (Trial 2018)

Foreign core members (up to six people)participating in major national or municipal projects approved in the past five years and still in progress and working at enterprises and institutions registered in the Shanghai free trade zone with independent legal personality, can apply for permanent residence in China after confirmation with the recommendation of the chief expert or project leader of the major project.

2018-06: China (Shanghai) Pilot Free Trade Zone on Expanding the Openness of the Financial Services Industry to Further Develop the New Advantages of Development and Opening-up

The Shanghai pilot free trade zone has issued 25 articles to expand banking and the securities and insurance businesses.

The specific contents include expanding the openness of the financial industry in the free trade zone, piloting foreign exchange management reforms, expanding the investment and financing functions and scope of free trade accounts, supporting foreign investors to participate in the Shanghai securities market, supporting overseas personnel to open FTF accounts in the free trade zone, and enhancing the Belt and Road function of financial services and the construction of the service science and technology center.

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