Shanghai Pilot Free Trade Zone is innovating, not simply expanding

THE STATE COUNCIL, China's Cabinet, recently announced the general plan for the Lingang New Area of the China (Shanghai) Pilot Free Trade Zone. Xinhuanet comments:

According to the plan, by 2025, Lingang New Area is to have established a comparatively mature investment and trade liberalization and facilitation institutional system, and built a batch of highly open functional platforms. By 2035, the Lingang New Area is to have strong international market influence and competitiveness.

The newly added Lingang New Area to the China (Shanghai) Pilot Free Trade Zone is another significant opening-up measure, which is of great strategic significance.