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Shanghai FTZ expansion to further deepen reform and opening-up

chinadaily.com.cn Updated: 2019-03-08

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Hang Yingwei, deputy to the 13th National People's Congress (NPC) and executive deputy director of the administrative committee of the China (Shanghai) Pilot Free Trade Zone. [Photo/jfdaily.com]

The expansion of the China (Shanghai) Pilot Free Trade Zone (FTZ) has attracted wide attention at the two sessions.

Hang Yingwei, head of Shanghai's Pudong New Area and deputy managing director of Shanghai FTZ management committee, said in a recent interview with the media that the expansion will not just see an enlargement in area, but will also see deepened opening-up, and an improvement of functions and layout, as well as an expanding of innovation. The zone aims to serve as a benchmark in the world as well as a pioneer for China's opening-up, Ha

Pudong has recently stepped up efforts for the expansion project, implementing the opening-up policies and systems and rolling out the construction plan.

According to Hang, the expanded zone will focus on the offshore, innovation, headquarters and digital economies, to facilitate the development of entrepot, and offshore and service trades.

"We will follow the principle 'better management and deepening opening-up' to withstand a stress test for the wider implementation of opening-up," Hang added.