The Shanghai Free Trade Zone was established with the approval of the State Council on August 22nd, 213. The experimental area covers four special customs supervision areas, including Shanghai Waigaoqiao Bonded Zone, Waigaoqiao Bonded Logistics Park, Yangshan Bonded Port Area and Shanghai Pudong Airport Comprehensive Bonded Zone, with a total area of 28.78 square kilometers.

The main task of building China (Shanghai) Pilot Free Trade Zone is to explore the new path and mode of China's opening to the outside world, accelerate the transformation of government functions and administrative system reform, promote the transformation of economic growth mode and optimize the economic structure, realize the promotion of development, reform and innovation through opening up, and form replicable and scalable experiences. The construction of the experimental area will help to cultivate China's new competitive advantages facing the world, expand the new space for economic growth, and create an "upgraded version" of China's economy.

Extended information:

China (Shanghai) Pilot Free Trade Zone is the first free trade zone in Chinese mainland and a new experimental field for China's economy, and strives to build it into an international-level free trade zone with convenient investment and trade, free currency exchange, efficient and convenient supervision and standardized legal environment. The policies and experiences of Shanghai FTZ emphasize replication and popularization.

China (Shanghai) Pilot Free Trade Zone mainly promotes ten functions such as international trade settlement center, financial leasing, bonded delivery of futures, expanding the pilot scale of bonded ship registration, and researching and establishing international accounts with offshore characteristics, namely, deepening the pilot operation of international trade settlement center and comprehensively developing the financial leasing function.

People's Daily Online-the State Council approved the establishment of China (Shanghai) Free Trade Zone.