The Much-anticipated Shanghai Free Trade Zone Once Again Ushered in Significant Policy Benefits
On August 12, the Shanghai Municipal People's Government simultaneously issued the "China (Shanghai) Pilot Free Trade Zone Lingang New Area Development "14 Five" Plan", "and the Pilot Free Trade Zone Lujiazui Area Development "14 Five" Plan".
Lingang New Area Plan points out that by 2025, it will take the lead in achieving breakthroughs in a number of key areas and become a hub node for Shanghai to build a strategic link between domestic and international double cycle. Among them, the key areas include: promoting the cross-border flow of data in the fields of intelligent network-connected vehicles, e-commerce, finance, etc.; all new public transport vehicles are clean energy, and the layout of fuel cell vehicle terminal facilities in due course.
The Lujiazui Area Plan proposes to build a global RMB financial asset allocation center. By 2025, the accumulation of various types of financial institutions will exceed 10,000, and the number of licensed financial institutions will exceed 1,000, accounting for a further increase in the proportion of the city of Shanghai.
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