- The Shanghai municipal government has introduced 31 new measures to boost innovation in the China (Shanghai) Pilot Free Trade Zone.
- The aim is to align the zone with international economic and trade rules.
- The measures include promoting innovation in trade in goods, facilitating trade in services, and providing convenience for temporary entry of business personnel.
- Imported goods for remanufacturing purposes will be conducted in key industries without tariffs or taxes.
- Companies and individuals in the Shanghai FTZ will be allowed to purchase overseas financial services.
- Financial institutions in the FTZ will receive feedback on new services within 120 days.
- Inward and outward remittance of transfers related to foreign investments will be allowed to flow freely.
- Accompanying spouses and family members of experts in the FTZ will enjoy the same entry and temporary stay period.
Source: chinadaily.com.cn
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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