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FTZ contributes to over 40% Shanghai trades

The Shanghai Free Trade Zone (FTZ), with an area of 120 square km, generated 42.9 percent of the total import and export of the municipality in the first 10 months, local authorities said Sunday (Nov. 25).

The data came days after the State Council, China’s cabinet, released a raft of measures supporting pilot FTZs to deepen reform and innovation.

According to the Shanghai Customs, more than 19,000 new enterprises have been registered since the FTZ was founded five years ago, bringing the total number to 28,000.

The total import and export volume in the first 10 months in the Shanghai FTZ has reached 1.21 trillion yuan (about 174 billion U.S. dollars), up by 5.8 percent year on year.

Read more on Xinhua.

 

Source: Xinhua
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