State Council, General Plan for the Lingang New Area of the China (Shanghai) Pilot Free Trade Zone
国务院中国（上海）自由贸易试验区临港新片区总体方案
August 22, 2019 | BY
Susan MokShanghai Free Trade Zone is expanded to include the Lingang New Area
Issued: July 27, 2019
Main contents: The New Area is supported in promoting freedom and convenience of investment and trade on the basis of the application of the various relaxation and innovative measures available in the Pilot Free Trade Zone by focusing on investment freedom, trade freedom, fund freedom, transport freedom, employment freedom, etc. (Section Two).
A foreign investment security review system will be implemented, and opening to foreign investment will be enhanced in key sectors such as telecommunications, insurance, securities, scientific research, technical services, education and hygiene by relaxing restrictions on registered capital, investment method, etc. (Article 4).
Proceeds raised offshore by enterprises in the New Area, and proceeds raised offshore and income derived from the provision of cross-border services by qualified financial institutions may be used by them at their own discretion in their operational and investment activities in the New Area and abroad. Qualified financial institutions are supported in engaging in business such as cross-border securities investment and cross-border insurance asset management (Article 6).
Related legislation: Special Administrative Measures for Foreign Investment Access in Pilot Free Trade Zones (Negative List) (2019 Edition)
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