By Dai Qi
Shanghai plans to include its ports-surrounding areas into free trade port, the Shanghai Securities News reported on Friday.
Previously, the city had already decided to set up free trade port zones within special customs surveillance zones like the Yangshan Free Trade Port Area and the Pudong Airport Comprehensive Free Trade Zone.
Local government authorities frequently visited the ports-surrounding areas in Shanghai following the Spring Festival.
According to the Shanghai Lingang Area Development Administration, on March 8, March 9 and March 12, different local leaders had visited the areas for investigations on logistics, industries, and among others.
Regarding the industrial blueprint and the development of emerging industries, the local authority said the building of Shanghai's free trade zones had entered a 3.0 era, and the upcoming free trade ports would bring more opportunities to enterprises.
Moreover, the government will spare no efforts to create supportive policies and put up suitable institutions.
Another related local authority in the banking sector said that Shanghai's plan for free trade port is under drafting and involves many sectors, and one thing is certain that more openness can be expected.
Besides, the functions and ranges will be further expanded for the Shanghai free trade zones by the respective bank accounts.
Analysts suggested a foreign related financial and tax reform under the scope of international financial centers and free trade ports.
Roughly, at least ten Chinese provinces and cities have been in preparation to vie for free trade ports status in a bid to further open up to the outside world, including Shanghai, Zhejiang, Guangdong, Tianjin, Fujian, Hainan and among others.
A free trade port involving Beijing, Tianjin and Hebei might also be applied for, according to the Shanghai Securities News.
