[Review] Meet with SHFTZ Authorities and Visit Yangshan Deep Water Port
Published on 2016-12-07
On Thursday 1 December, the British Chamber Shanghai’s Free Trade Zone Focus Group welcomed authorities from the Shanghai Free Trade Zone Administration Bureau to update members on the Shanghai Free Trade Zone’s (SHFTZ) latest developments.
The two-part event then invited members to visit the Yangshan Deep Water Port, one of the largest deep-water port in the world.
Shanghai’s Free Trade Zone
Occupying the first part of the event, representatives from the Fiscal and Financial Services Bureau of SHFTZ and Shanghai Free Trade Zones United Development (SHFTZUD) provided members with detailed overviews of the latest SHFTZ financial and trading policies.
With more than 40% of foreign investment being transmitted through the SHFTZ, members were navigated through the SHFTZ’s detailed and complex frameworks and guidelines.
Having touched upon key issues relating to the Negative List Decrement from 2013 to 2015, the representatives introduced the six fields of business open for foreign investment:
- Public Service
- Financial Service
- Cultural Service
- Professional Service
- Commerce and Trade
The representatives then provided members with their insights on the eight different trading facilitation functions provided to those operating in the SHFTZ:
- Transit LCL
- Maintenance Service
Utilising a case study to explain the application and service process, the representatives introduced the ‘One Window Platform’ that has minimised application times by processing all SHFTZ applications online.
Yangshan Deep Water Port
The second part of the SHFTZ event provided members with the unique opportunity to travel on the world famous Donghai Bridge to visit the Yangshan Deep Water Port.
Representatives guiding the members during the Port visit provided clear explanations on the functioning of the Port in addition to key benefits associated with utilising the Port.
With special measures ranging from tax exemptions to unlimited storage for bonded goods, members benefitted from an in-depth understanding on how to utilise all services and benefits offered by the Port.