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Office's move to develop Lingang area

Updated: 2014-04-01

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The management committee of the Shanghai pilot free trade zone yesterday relocated its office to Lingang New City to boost development in the harbor area on Shanghai's southeast coast.

The relocation is also to free space for business expansion in the Waigaoqiao area, which has seen an influx of new companies since a registration system was unveiled to encourage businesses to set up there, the city government said earlier this year.

The government said the relocation also aims to develop the Lingang area, which consists of Lingang New City and neighboring industrial, manufacturing and logistics zones.

As of March 25, the pilot FTZ had attracted 7,492 new enterprises comprising 6,864 domestic companies and 628 foreign-funded ones.