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Calls for greater opening-up in Lin-gang, Waigaoqiao areas

SHINE| Updated: Jan 26, 2021 L M S

Deputies to the Shanghai People's Congress recently called for greater opening-up and institutional innovation for the Lin-gang Special Area and the Waigaoqiao Free Bonded Area in the China Shanghai Pilot Free Trade Zone.

The calls came during a discussion on further reform and opening up of the city's Pudong New Area on Jan 25, during the fifth session of the 15th Shanghai People's Congress.

Wu Jian, a partner of Duan & Duan Law Firm, said the Lin-gang Special Area has great potential to improve its legal services to create a better overall business environment.

He said Lin-gang could become an international arbitration center on a par with Singapore, Hong Kong and London.

"So far, Lin-gang has allowed overseas arbitration agencies to set up offices, but it could potentially allow them to carry out concrete services there, with the support of the National People's Congress," Wu said.

The leading lawyer also called for the establishment of a special international finance court and a court that deals with civil and commercial lawsuits involving international subjects.

"Through the courts' work, a team of domestic and international experts who are familiar with international trade rules and experienced in legal affairs can be gathered to serve Lin-gang, which is a key experimental ground for China to take part in international economic governance," he said.

Liu Hong, director of Shanghai Waigaoqiao Free Trade Zone Group Co, said the new policies proposed for Lin-gang could be implemented in the other parts of the free trade zone, of which Waigaoqiao is a part.

"Waigaoqiao has a large economic volume with miscellaneous industries and complete industrial chains, a high concentration of companies, a variety of business modes and diversified market demands, which is conducive to the application of the new policies to concrete projects," he said.

Liu also urged there be more support from the government for offshore trade and cross-border e-commerce, with new policies on taxes and foreign exchange regimes.

Fan Zheng, vice general manager of Shanghai Patent & Trademark Law Office LLC, said intellectual property protection services could be improved in more ways.

He called for an expansion of the China (Pudong) Intellectual Property Protection Center, to ensure it serves more businesses and proposed the development of financial services for intellectual property in Pudong.

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