Shanghai Customs, the government of the Pudong New Area and the Lin-gang Special Area Administration signed a memorandum of understanding or MOU on Feb 10 in the Pudong New Area, East China's Shanghai city.

Shanghai Customs signs an MOU with the government of Pudong New Area and the Lin-gang Special Area Administration on Feb 10 to support them to optimize their business ecosystems. [Photo/WeChat account: shlgguanweihui]

Over the past year, with the support of Shanghai Customs, Pudong New Area's total foreign trade was worth 2.38 trillion yuan ($374.6 billion), up 13.9 percent.

Under the MOU, Shanghai Customs will further support the Pudong New Area and Lin-gang Special Area in five areas: deepening free trade zone's custom reforms and innovations, promoting the construction of a sci-tech innovation center, supporting the establishment of a special customs supervision area, assisting new forms of foreign trade and supporting the building of a headquarters economy.

Of these, it is said that measures – including assisting the copying and promotion of the Lin-gang Special Area's integrated information management service platform to specific areas in the pilot free trade zones – will effectively expand the coverage of innovation policies.