Shanghai, 10 Feb (Xinhua) -- On 10 February, Shanghai Customs, the Government of Shanghai Pudong New Area, and the Management Committee of The Lingang New Area of the Shanghai Pilot Free Trade Zone signed a new round of memorandum of cooperation.
In 2021, the total foreign trade of Pudong New Area reached 2.38 trillion yuan, an increase of 13.9%. According to the Memorandum of Cooperation, the coverage of relevant institutional innovations will be further expanded. For example, the three parties will give full play to the linkage effect of the Shanghai Free Trade Zone, the Lingang New Area of the Shanghai Free Trade Zone and the Special Customs Supervision Area, support the replication and promotion of the integrated information management service platform of the Lingang New Area to specific areas of the Shanghai Free Trade Zone, and support the application of the relevant policies of the Yangshan Special Comprehensive Free Trade Zone in specific areas where conditions are available in Pudong New Area.
Through customs supervision innovation, Pudong New Area will deepen the construction of a science and technology innovation center with global influence. The memorandum of cooperation mentions that the operation of the Zhangjiang Cross-border Science and Technology Innovation Supervision service center will be promoted to create a more competitive innovation environment for enterprises through the combination of tax reduction and bonded policies. Promote the free flow of bonded goods of upstream and downstream enterprises in the industrial chain of high-end manufacturing industries such as integrated circuits, and support third parties to explore the construction of a special centralized inspection platform for the import and export of integrated circuit industries.
The development of new formats and the expansion of new tracks are also the focus of tripartite cooperation. According to the Memorandum of Cooperation, the three parties will support the construction of an international transit consolidation center, support the development and innovation of new formats such as cross-border e-commerce and bonded maintenance, and further give play to the policy advantages of Yangshan Special Comprehensive Free Trade Zone.
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