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FTZ foreign trade tops 783b yuan in 2016, up 5.9%
- Posted by: BusinessesChina.com
- Category: Free Trade Zone
Shanghai Pilot Free Trade Zone recorded a 5.9 percent growth in foreign trade to a gross value of 783.68 billion yuan (US$113.65 billion) last year, accounting for 27.3 percent of the city’s total and up 0.9 percentage points from 2015, according to local customs.
By the end of 2016, 18,755 companies in the FTZ had registered with the customs, representing 73.4 percent of the total in the zone.
Shanghai Customs has adopted 31 innovative policies for companies in the free trade zone since the zone was established three years ago, and 21 policies have been copied by free trade zones in other parts of China.
The Shanghai Entry-Exit Quarantine and Inspection Bureau has implemented 77 innovative policies in the pilot zone with eight copied nationwide and 24 applied citywide.
The Shanghai Pilot Free Trade Zone, 28.78 square kilometers in area, consists of four customs supervision sub-zones: Waigaoqiao Free Trade Zone, Waigaoqiao Free Trade Logistics Park, Yangshan Port Free Trade Area and Pudong Airport Free Trade Area.