Shanghai Municipality, Plan for Thoroughly Implementing the «Several Measures for Supporting Intensified Reform and Innovation in Pilot Free Trade Zones»

Issued: March 9, 2019

Effective: March 31, 2019

Main contents: The requirement in respect of the percentage of technical personnel with foreign nationality in foreign-invested construction project design enterprises is abolished in Shanghai (Article 1).

The pilot project for the reform of general purpose land in the bonded zone of the Shanghai Pilot Free Trade Zone is expanded to all of the Zone. Subject to zoning requirements, the plot ratio of land in the Zone may be suitably increased in line with functional requirements, and one lot of land or one building is permitted to accommodate multiple functions (Article 3).

The land pricing model wherein differential rent based on land grade is primary and nature of the land is secondary will be implemented on a trial basis in the Shanghai Pilot Free Trade Zone. For industrial land, a flexible term supply is implemented, with land supply procedures such as lease first, grant later and differential term grants taken, based on industrial policy and the type of project.  The establishment of an economical and intensive land use model will be explored (Article 4).

The engagement in accordance with relevant provisions in business such as handling renminbi derivative products for foreign institutions by banking financial institutions in Shanghai is promoted, subject to lawfulness, compliance and risk controllability (Article 42).

Related legislation: Special Administrative Measures for Foreign Investment Access in Pilot Free Trade Zones (Negative List) (2018 Edition)