Shanghai Free trade port trade restrictions will be greatly relaxed, more to start the free trade port exploration

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Do not declare, not duty, re-export trade is not restricted free trade in Shanghai program has been the first to report to ministries and commissions, Shanghai Free trade port trade restrictions will be tied up.

Zhejiang, Fujian and Guangdong and more to start the free trade port exploration.

Several reporters from Economic Information Daily recently interviewed front-line builders and experts and scholars involved in the pilot free trade zone in Shanghai and learned that Shanghai has submitted the proposal of building a free trade port to the relevant state ministries for comments. Compared with the FTZ, the free trade port is expected to make new breakthroughs in the first-line (border) liberalization and will eliminate or minimize the trade control measures for incoming goods. It is expected that the free trade port will be subject to customs clearance, tax exemption and re-export trade Unrestricted. In addition, the international financial leasing and other offshore industries will also become a major bright spot in Shanghai Free Trade Port.

“Give more freedom to reform the free trade pilot zone autonomy and explore the building of a free trade port”, the report of the 19th National Congress caused a heated debate. It is understood that at present, Shanghai, Zhejiang, Fujian, Guangdong and many other places are in the process of establishing or exploring free trade ports. From the progress of view, Shanghai is undoubtedly walking in front. Recently, the Ministry of Commerce said that it will work with Shanghai Municipality and relevant departments to study and formulate plans for the establishment of a free trade port.

“At present, Shanghai has submitted the plan of building a free trade port to the relevant state ministries for comments. Next Pudong will work with the relevant departments to do a good job in the construction of a regional seine and regulatory platform to prepare for the official launch.” Recently , Pudong New Area Mayor, Shanghai Free Trade Zone Administrative Committee, Hang Yingwei, deputy director of Pudong New Area CPPCC informed briefing.

It is reported that as the first free trade zone in China, the construction of a free trade port is regarded as an important breakthrough in the 3.0 version of Shanghai Free Trade Zone.

According to the “Comprehensively Deepening the Reform and Opening-up Plan of the China (Shanghai) Pilot Free Trade Zone” announced in March this year, Shanghai will set up a “Free Trade Port Area” within the customs supervised areas such as the Yangshan Bonded Port Area and Shanghai Pudong Airport Bonded Area, .

What is a free trade port? Wang Yang, vice premier of the State Council, said in an article published on the People’s Daily on the 10th that a free port is a special area located in a country (region) outside the territory of China and where goods and funds personnel are free to enter and leave the vast majority of goods without tariffs. It is the special economy with the highest level of openness in the world Functional area. In his article, he said that the coastline of our country is long and the islands are rich in resources. It is of great significance to explore a free trade port with Chinese characteristics so as to create an open new highland with a higher level of openness, a better business environment and a stronger radiation role in promoting the innovation and development of an open economy.

Bai Ming and other experts, deputy director of the Institute of International Market Research Institute of Ministry of Commerce, said that free trade ports generally have the characteristics of “first line (border line) liberalization and second line (link with non-free trade port) .

At present, the world-famous free trade ports include Hong Kong, China, Singapore, Rotterdam and Dubai. In Singapore, for example, 99% of its trade clearances can be handled electronically. Processing can be completed within 10 minutes and the annual trade cost saved can reach billions of dollars.

“In short, a free trade port is a free trade zone in the free trade zone.” Gu Hongmei, a member of the CPPCC National Committee in Pudong who participates in the construction of the free trade zone, and Yang Guan, the Commissioner of Yangshan Customs, said that compared with the free trade zone, the free trade harbor is relatively large The change occurred in the liberalization of front-line management. Relying on informational regulatory measures, the free trade port will cancel or minimize the trade control measures for incoming goods, minimize first-tier declaration procedures and substantially enhance the level of trade facilitation.

“Although the original free trade zone exempted tariffs, the flow of goods in the zone remained constrained, which created obstacles to the development of entrepot trade, etc. In contrast, free trade ports do not declare customs duties, Re-export trade is not limited. “Hang Ying Wei said.

Experts said that in addition to trade, free trade ports can also be implemented in accordance with international practice, financial, foreign exchange, investment and immigration and other management systems, thus creating a kind of “offshore” environment. “Many industries with offshore features, such as international financial leasing, international ship registration and international transit, will usher in opportunities for development,” said Gu Hongmei.

Zheng Yang, director of the Shanghai Municipal Finance Office, said that for the free trade port, finance can play an important role, for example, facilitating convenient capital flow in free ports of trade, optimizing cross-border capital services in local and foreign currencies, cross-border RMB products Innovation can also be strengthened; allowing financial institutions to innovate offshore financing to support free trade ports. The industry pointed out that these characteristics of free trade port will bring a lot of room for innovation in the market players and also attract the attention of capital markets.

It is noteworthy that, like the free trade zone, the free trade port under construction in Shanghai is not its own private plots but a strategy that serves the entire country’s opening to the outside world. In combination with the “Belt and Road” and the development of the Yangtze River Economic Belt, it will also become the new mission of Shanghai’s free trade port.

“The free trade port area to be built in Shanghai is not a simple upgrade of the bonded area or the special customs control area, but the first to explore the highest standards of international standards and a higher level of economic management system and mechanism.” In the second half of this year Shanghai Municipal People’s Congress held at the meeting, said the Shanghai municipal government.

Long Guoqiang, deputy director of the State Council Development Research Center, told the “Economic Information Daily” reporter that the next step should be greater determination and efforts to reform and continue to play the role of free trade pilot area and on this basis to create a new open highlands, Explore free trade port. In his view, a free trade port does not necessarily mean a single port, nor an inland port or an airport. It should be a more open area and a higher level of open trial after the authorization of the state. Chen Bo, executive director of the Free Trade Zone Research Center of Huazhong University of Science and Technology, believes that the construction of a free trade port needs to be gradual and orderly progressively.

At present, according to the unified arrangements of the Central Party Committee and the State Council, the Ministry of Commerce, together with relevant provinces, municipalities and departments, will, on the basis of building a free trade zone at a high standard and a high standard, focus on establishing a free trade zone Actively carry out the work.

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