Shanghai FTZ was expanded from the Waigaoqiao Area to Lujiazui, Jinqiao and Zhangjiang Area in this May, and we find below new policies to be taken in the coming future.
1. During the registration procedure, the “seal carving” and the “customs registration” will be also included into the “WOFE one-step registration”.
2. For those companies had no business operations, the deregistration procedures will be simple.
3. The first “power devolution” list is under preparation and to be issued by the Pudong government. All administrative approval required by the municipal and district government is to be cancelled.
4. The official “enterprise service center” is to be set up in Pudong. Such institution will focus on combining the powers between the different governmental authorities.
5. The customs clearance will be much easier in the new FTZ, especially for the import and export of the biologic material;
6. The registration power for the technology import and export contract filing will be delegated to the Pudong district level.
7. The visa application requirement procedure for foreign senior talents and experts will be easier. The work age range for the foreign expert will be wider. For some foreigner students, he/she can directly work in FTZ after their graduation in Shanghai;
8. To take further actions to build up Shanghai international financial center:
n To set up Shanghai Insurance Exchange Center and China Trust Registration Co., Ltd;
n To promote the market for the transaction, liquidation and settlement platform for the gold, foreign exchange, equity, credit right, futures, insurance, commodities, marine financial derivate instructions;
n To set up Zhangjiang Technology Investment Bank and encourage the combination of the financial institution to make the high technology financial product innovation and service improvement;
n To collect the venture capital fund related to the high technology;
If you want to know more details, please contact our senior consultant.
Ms. Jojo Hu
TEL: 0086-21-68868335 ext 324 / FAX: 0086-21-68868021