Shanghai Pudong Waigaoqiao Free Trade Zone
Shanghai Pudong Waigaoqiao Free Trade Zone was established by the State Council in June, 1990, and was officially launched in September in the same year. The planning area of Shanghai Waigaoqiao Free Trade Zone was 10 square kilometers when it was set up and it was located in Pudong New district and near the Yangtze River estuary. It stands at the joint of golden waterway and golden coast, and it adjoins the Waigaoqiao port. It is the first and the biggest among the 15 Free Trade Zones in the country.
Waigaoqiao Free Trade Zone is the economic area with separation facilities under the special administration. The goods can be imported and exported from the FTZ to other countries without any limitations, free of tariff, import linkage tax, the examination of license, and also regular formalities under the customs supervision (excluding the goods prohibited from exporting or with special regulations)
Shanghai Waigaoqiao Free Trade Zone Management Council is the branch institution of Shanghai municipal government. According to Regulations of Shanghai Waigaoqiao Free Trade Zone formulated by the Shanghai municipal people’s congress, the administrative affairs of FTZ will be in unified management. The customs shall carry out the practices management according to the Bonded area customs regulation.
Absorbing the advanced idea of development from the similar region of foreign countries with the physical truth of Shanghai's economy and geography, Shanghai Waigaoqiao FTZ has planned carefully and become the synthesizing Free Trade Zone which collects the function of international trade, advanced manufacture, modern logistics and bonded commodities trading. Waigaoqiao FTZ is also one of the most important modern logistics industry bases and the important component of microelectronics industry area. Until the end of December of 2008, FTZ has already approved 10242 projects of 94 countries, among which 111 companies of world fortune 500 companies have entered FTZ. Accumulative total investment reaches 16 billion US dollars, contractual foreign investment 7.4 1US dollars and disbursement of foreign capital 5.03 billion US dollars. The employees inside the Free Trade Zone have reached 190, 0000, of which the foreign employees cover about 9200.
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