Shanghai increases its competitive edge

City's FTZ speeds up tax arrangements offshore to become world-class port

China (Shanghai) Pilot Free Trade Zone (FTZ) is speeding up its exploration of offshore tax arrangements and freeport areas while improving its financial function to play a bigger role in the Belt and Road Initiative.

Shanghai FTZ will further introduce offshore tax arrangements, turn two of its existing bonded warehouse areas into freeports by 2020, and will enhance its financing service to help Chinese companies enter other overseas markets, according to the latest reform plan released by the State Council in March.