A view of a section of the Yangshan Free Trade Zone. [Photo/WeChat account: shlgguanweihui]

Phase II of the Yangshan Free Trade Zone – in the Lin-gang Special Area of East China's Shanghai city – passed its acceptance inspection on Jan 20, which means the entire current area of the zone has now made the grade.

Phase I, which passed its inspection on May 12 last year, has a planned area of 16.29 square kilometers. Phase II covers 9.05 sq km, including the Nangang section of Luchao Port and the southern part of Shanghai Pudong International Airport.

Following the green light given to the entire Yangshan FTZ, COMAC Shanghai Aircraft Manufacturing Co Ltd, the final assembly manufacturing center of Commercial Aircraft Corporation of China Ltd, will settle there.

Zhang Jun, deputy director of the Yangshan Free Trade Zone division of the Lin-gang Special Area Administration, said the southern part of the airport will host the final assembly base for COMAC for its aviation manufacturing, aviation services and aviation logistics.

COSCO Shipping Development Co Ltd, Zhongfu Shenying Carbon Fiber Co Ltd and another 18 major projects signed agreements on the same day to move into the Yangshan FTZ. The projects, with a total investment of 10.5 billion yuan ($1.63 billion), involve business ventures such as high-end shipping services, civil aviation, bulk commodities, cross-border e-commerce and financial leasing.

According to Gao Rongkun, the head of Shanghai Customs, there are currently more than 3,200 customs registered enterprises in the Lin-gang Special Area, 899 of which are registered in the Yangshan Free Trade Zone.

The Yangshan Free Trade Zone will now start phase III to expand into the area including the 3.63-sq-km Luchao Port area and the support taxiway of the southern part of Shanghai Pudong International Airport.

Phase II of the Yangshan Free Trade Zone passes its acceptance inspection on Jan 20. [Photo/WeChat account: shlgguanweihui]