Premier Li Qiang has called to further upgrade pilot free trade zones during an inspection tour of Shanghai. He visited the Shanghai Lingang Center in the Lingang Special Area of China (Shanghai) Pilot Free Trade Zone and several enterprises, learning about the development of the pilot free trade zone. The establishment of Lingang Special Area in southeastern Shanghai is an important measure to show China’s strong commitment to all-round opening-up and the development of economic globalization. By 2025, the special area aims to form a relatively well-established institutional system featuring the liberalization and facilitation of investment and trade, set up functional platforms with greater openness, and become a cluster of world-class enterprises. During his inspection tour, Li emphasized the need to deepen opening-up in a wider range of fields and improve the industrial and business environment.
While visiting a cross-border data company, Li pointed out that the cross-border flow of data is a matter of great concern for all parties. He expressed his hope that the company would actively explore and accumulate practical experiences to make contributions to the nation in improving relevant systems. While chairing a symposium attended by officials of the Ministry of Commerce (MOFCOM) and those from eight provinces and municipalities – Shanghai, Beijing, Jiangsu, Zhejiang, Henan, Hubei, Guangdong and Shaanxi – Li emphasized that the construction of free trade zones (FTZs) is an important strategic measure to promote reform and opening-up in the new era. Li said that efforts should be made to vigorously implement the strategy of upgrading FTZs. The focus should be on aligning with high-standard international economic and trade rules, promoting institutional opening-up and achieving a higher level of liberalization and facilitation of trade in goods, he said. Efforts should also be made to promote the innovative development of trade in services and explore new models for cross-border data management, he added, as reported by the China Daily.
