The Lin-gang Special Area of China (Shanghai) Pilot Free Trade Zone – located in East China's Shanghai city – held a news conference in February on improving its business environment, launching a number of ground-breaking and innovative measures at the event.

According to officials from the special area, Lin-gang is striving in the next two to three years to become the pilot zone with the most streamlined approval procedures, most precise supervision and the most effective services.

It is also aiming to establish a first-class business ecosystem with a demonstration role in China, while exerting an international influence.

On August 20 last year, the Lin-gang Special Area was officially inaugurated. The area focuses on customized effective local policies and measures, but also aims to meet the highest standards in international economic and trade rules.

In just over a year, total resident businesses have increased substantially, the administrative system has reportedly been successfully established, while the economic benefits and overall standards have been improved.

In 2020, the total output value in the industry-city integration zone was 170.3 billion yuan ($25.97 billion), realizing year-on-year growth of 39 percent.

Since Lin-gang's establishment, 130 policies – covering six major areas including finance, recruitment and legal protection – have been rolled out.