New online platform to boost FTZ prospects

Shortly after Beijing approved the expansion of the China (Shanghai) Pilot Free Trade Zone, Shanghai Capacity Exchange Co Ltd launched its new online container forward-booking platform, in January, believed to be the first of its kind in the world.

One of the first 25 companies to be registered in the zone, Shanghai Capacity had until then kept a low-profile as it worked on fine-tuning the trading rules for the new platform, by running a pilot program since March last year.

Comparing it to China's largest online marketplace Taobao.com, Shanghai Capacity General Manager Fu Weizhong said the online trading system will be run based on real-time freight rates.