Yangshan Free Trade Zone plans to incubate three industries and build 10 centers by 2035. [Photo/WeChat account: shlgguanweihui]

Yangshan Free Trade Zone announced its industrial development and spatial distribution plan and 88 measures to promote the opening up and innovative development of the area on June 2, half a month after opening.

The industrial plan specifies the industrial layout of each block of key industries as well as Luchao Port, Xiaoyangshan Island and the southern part of Shanghai Pudong International Airport.

According to Wu Wei, deputy director of the China (Shanghai) Pilot Free Trade Zone Lin-gang Special Area Administration, the FTZ shall focus on cultivating three major industries - international supply chain management, international high-end manufacturing and related services, and cross-border integrated services.

By 2035, the Yangshan Free Trade Zone will build centers for international transit consolidation, international distribution, international order and settlement, global sales and services, cross-border trade, global inspection maintenance and green manufacturing, high-end R&D and manufacturing, international financial assets, international commodity trading center spot trading, and international finance lease trade.

The measures to promote the opening up and innovative development of the Yangshan Free Trade Zone raised 88 supporting opinions in eight aspects - trade supervision, financial innovation, policy innovation and fiscal support in key areas, and comprehensive guarantee to maximize efficiency, minimize operating costs, and boost the development of enterprises and industries.

In the next step, the FTZ will accelerate the implementation of systems, policies, functions, services and projects to create a better institutional environment for the development of enterprises in the area and continuously improve the international competitiveness of the area.

To learn more, please refer to the authoritative Chinese version.