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China approves pilot free trade zone in Shanghai
BEIJING - China's State Council has approved the establishment of a pilot free trade zone in Shanghai, according to a Ministry of Commerce statement on Thursday.
Covering 28.78 square kilometers, the new zone will be built on the basis of existing bonded zones -- Waigaoqiao Free Trade Zone, Waigaoqiao Free Trade Logistics Park, Yangshan Free Trade Port Area and Pudong Airport Comprehensive Free Trade Zone.
The pilot zone is a crucial move in adapting to global economic and trade development and imposing a more proactive opening-up strategy, said the statement, adding it will help explore a new path for China's opening up, speed up transformation of government functions and promote economic restructuring.
Experiences gained from the pilot zone are expected to be copied in other parts of the country, according to the statement.
The zone will help foster China's global competitiveness and serve as a new platform for the nation's cooperation with other countries, and contribute to efforts in building "an upgraded version of China's economy," said the statement.
This photo taken on July 17, 2013 shows a night view of downtown Shanghai.
[Photo/Xinhua]
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Shanghai's FTZ must aim to be world class by 2020
China expects Shanghai to build the city's free trade zone into a world-class one with liberalized trade and investment, no hidden...
Shanghai's FTZ must aim to be world class by 2020
China expects Shanghai to build the city's free trade zone into a world-class one with liberalized trade and investment, no hidden...
Shanghai's FTZ must aim to be world class by 2020
China expects Shanghai to build the city's free trade zone into a world-class one with liberalized trade and investment, no hidden...
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Free Trade Zone
The planning area of Shanghai Free Trade Zone is 28 square kilometers.Including Yang Shan Bonded Port Area,WaiGaoQiao Bonded Area (Containing Wai Gao Qiao Bonded Logistical Park Area) and Pu Dong Airport Comprehensive Bonded Area.
WaiGaoQiao
Waigaoqiao Free Trade Zone is the economic area with separation facilities under the special administration.
PuDong Airport
Pu Dong area will including comprehensive bonded area, bonded area,bonded logistic park,export processing area major custom special supervisal area at the same time.
Geographical Position
"Three Area" of Shanghai Free Trade Zone has already formed a expedite transportation network.
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Policies of Shanghai Free Trade Zone:Gathered all the policy advantages of special custom supervisal of bonded area,bonded port area,comprehensive bonded area,bonded logistical park and export processing area.On the custom supervisal,foreign exchange management,inspection&quarantine and other managements,these area have the most complete,convenient and opened level.
General Planning of Shanghai Free Trade Zone,Tax policies with more international competitive,Foreign financial institutions open foreign capital banks,Free Trade Zone promote the conveniency of enterprises invest abroad,Cancel some limitations of foreign investment enterprise requirements,CNY convertible.
Foreign invested enterprises can participate in processing,international trading,bonded storage,domestic distribution,logistic,distribution,product exhibition,commercialized simple manufacture and testing,after sale and etc businesses.,etc.
The registration process of Free Trade Zone,Name approval,Foreign investment approval,business license,organization code certificate,tax registration,foreign exchange registration,bank account opening,finance,statistics,customs,inspection and quarantine.
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China (Shanghai) Pilot Free Trade Zone
Investment Consulting Hotline: (86-21) 5836
Framework Plan
Framework Plan for the China (Shanghai) Pilot Free Trade
The China (Shanghai) Pilot Free Trade Zone is established
based on the strategic decision by the Central Government,
and is a significant measure to boost China &#39;s reform and
opening up under the new circumstances. This Framework Plan
provides detailed guidance on initiatives and their
respective implementation measures.
1. &&&&& General requisition
The China (Shanghai) Pilot Free Trade Zone is a national
strategy aiming to expedite the functional transformation of
government, explore administrative innovation, stimulate
trading and investment facilitation, and accumulate
experience on achieving a more open Chinese economy.
1) Guiding principles
We should hold high the great socialism banner with Chinese
characteristics, take Deng Xiaoping Theory, &Three
Represents& important thought and scientific development
approach to guide this national strategy. We should further
unleash our minds, dare to pilot, and promote reform and
development by opening up the economy. The China (Shanghai)
Pilot Free Trade Zone will create a regulatory environment
on cross border investment and trading that is in line with
international practices, enhance China&#39;s economic position
globally, and contribute to achieving the revival of the
Chinese People&#39;s China Dream.
2) Overall objectives
During the course of two to three years of piloting reforms,
the China (Shanghai) Pilot Free Trade Zone shall expedite
the functional transformation of government, expand the
opening up of service sectors and promote the reform of the
foreign investment administrative system, and develop
headquarter economy shall explore RMB
convertibility under capital account items and opening up of
shall explore to improve Customs&#39;
su and shall create a framework to
support investment and innovation activities to cultivate an
internationalized business environment. The China (Shanghai)
Pilot Free Trade Zone shall pilot a free trade zone, as
measured by international standards, with convenient
investment and trading procedure, full convertibility of
currencies, effective and efficient goods supervision, and
investor-friendly regulatory environment. As such,
experience hence gained shall serve nationwide with the new
ideas and approaches for opening up of the economy and
deepen the reform further.
3) Scope of implementation
The China (Shanghai) Pilot Free Trade Zone is comprised of
the four customs supervision areas, including Shanghai
Waigaoqiao Bonded Zone, Waigaoqiao Bonded Logistics Zone,
Yangshan Bonded Port and Shanghai Pudong Airport
Free Trade Zone, and based on the ongoing results of the
implementation , as well as to develop industry and the need
to spur the radiating effect, the scope of implementation
and the scope of the pilot measures will be progressively
expanded, forming a supporting mechanism for building
Shanghai as an international economic, finance, trade and
transportation center.
2. &&&&& Major tasks and measures
Based on the unity of openness expansion and system reform,
and the unity of functional development and policy
innovation, the China (Shanghai) Pilot Free Trade Zone aims
to develop a framework in line with international norms for
investment and trade. To do so, one needs to bear in mind
the strategic requirements of going to the world and serving
the nation, as well as the strategic task of building &The
Four Centers” of Shanghai , and take actions to experiment
step by step with risks under control.
1) Accelerate the functional transformation of government
a. && Deepened reform in administration system. The China
(Shanghai) Pilot Free Trade Zone will accelerate the
functional transformation of government and governmental
administrative management innovation. An administrative
management system meets and fits with international trade
and investment standards will be established. The focus of
administrative management procedures will shift from prior
approval to mid-event control and subsequent supervision. A
service pattern will be set up to materialize one-off
acceptance, integrated examination and approval, and
efficient operation. An online information platform will be
established to consolidate information and improve
information sharing amongst various departments. A
comprehensive assessment mechanism of industry information
tracking, supervision and collection will be established, to
strengthen the tracking, administration and supervision of
activities outside of the zone conducted by entities
registered in the China (Shanghai) Pilot Free Trade Zone. A
joint supervision and enforcement system will be implemented
to cover the areas of quality and technical supervision,
food and drug supervision, intellectual property, industry
and commercial administration, and tax administration to
enhance efficiency. In addition to relevant administrative
authorities, the social forces are also encouraged to take
an active part in market supervision. Transparency in
administrative management will be enhanced, and the
information disclosure mechanism that reflects the
participation of investors and is in line with international
norms will be established. To protect the interests of
investors, various administration reforms will be put in
place, for instance enhancing fair competition, and allowing
qualified foreign investors to remit investment gains at
their discretion. An intellectual property related dispute
resolution and assistance system will be established.
2) Opening up of investment sectors
Opening up of service sectors. The financial services,
transportation services, commerce and trade services,
professional services, cultural services, and public
services sectors are selected to be enlarged and opened (for
a detailed list please refer to the appendix), and market
access restrictions such as requirements concerning the
qualification of investors, limitations on foreign
participation, restrictions concerning business scope, etc.,
(except in respect of banks, information and communication
services) will be suspended or cancelled, in order to create
an environment of equal market access for the benefit of all
investors.
Explore the &Negative List& administrative approach. The
China (Shanghai) Pilot Free Trade Zone will reform the
administrative approach of foreign investment based on
international norms. Trial national treatment on investment
permission and a &Negative List& mechanism will be
implemented within the zone. For the projects that are not
stated in the &Negative List&, foreign investors and
domestic investors will receive the same treatment, by going
through filing procedures instead of approving requirements&
(with the exception of areas specifically defined by the
State Council). Shanghai Municipal People&#39;s Government will
be in charge of the project filing procedures. The approving
requirement on foreign investment contracts and Articles of
Association will be replaced by a filing procedure with
Shanghai Municipal People&#39;s Government, with the same follow
up procedures finished according to the current laws and
regulations. The registration process with the
Administration of Industry and Commerce will be aligned with
the business registration system reform, and the process
will be optimized. National security review system will be
improved, and pilot national security review on foreign
investment projects will be trialed in the China (Shanghai)
Pilot Free Trade Zone to constitute a safe and efficient
open economic system. A foreign investment administrative
system that is aligned with international standard will be
Set up a system to support outbound investment. The China
(Shanghai) Pilot Free Trade Zone is aiming at the reform of
outbound investment administration by principally
implementing the filing system on the setup of overseas
companies and on the general outbound investment projects.
The Shanghai Municipal People&#39;s Government will be in charge
of the filing procedure on general outbound investment
projects to facilitate the convenience on outbound
investment. A new investment service enhancement mechanism
will be created to strengthen the post outbound-investment
administration and service, and to set up an
information-monitoring platform shared by multiple
government departments for statistics and annual inspection
purposes. Various types of investors in the China (Shanghai)
Pilot Free Trade Zone are encouraged to conduct outbound
investment in different forms. SPVs specializing in overseas
equity investment are encouraged to be set up in the China
(Shanghai) Pilot Free Trade Zone, and qualified investors
are encouraged to establish fund of funds for making
offshore equity investments.
3) Promote the transformation of trade development approach
Promote the transformation and upgrading of trade. The China
(Shanghai) Pilot Free Trade Zone is cultivating new trading
types and functions, aiming to increase China &#39;s competitive
advantage and enhance their position in the global trade
value chain by focusing on the development of technology,
brands, quality and service. Multinational companies are
encouraged to set up Asia-Pacific regional headquarters
and/or operation centers with comprehensive functions of
trading, logistics, settlement, etc. More efforts will be
made to promote Shanghai as the international trade
settlement center, and to expand the function of the special
account on cross-border receipt or payment and financing
under trade in service. Enterprises in the China (Shanghai)
Pilot Free Trade Zone will be supported to develop offshore
business. Enterprises are encouraged to employ an overall
plan in international and domestic trade to integrate the
development of domestic and foreign trading business.
International commodity trading and resource configuration
platform will be explored to trade energy products, basic
industrial raw materials and agriculture commodities. The
ongoing pilot bonded futures delivery will be expanded and
improved and the warehouse receipt financing and other
functions will be extended. The establishment of outbound
cultural trade bases will be accelerated. The outsourcing
service sectors include bio-pharmaceuticals, software and
information, management consulting, data services etc. will
be encouraged. Financial leasing companies will be allowed
and encouraged to set up project companies in the China
(Shanghai) Pilot Free Trade Zone and to carry out domestic
and international leasing business. Third-party inspection
and appraisal institutions are encouraged to set up with
appraisal results be acceptable in accordance with
international standards. High-tech and value-added
maintenance services will be trialed in the China (Shanghai)
Pilot Free Trade Zone. Cross border e-business service
function will be cultivated, and a system covering customs,
inspection & quarantine, tax refunds, cross-border payment
and logistics will be set up to support cross-border
e-business.
Elevate the capacity of the shipping service. The China
(Shanghai) Pilot Free Trade Zone will leverage on the
Waigaoqiao Port , Yangshan Deep-Water Port and Pudong
International Airport to form a shipping development system
and operation model that will have strong global competitive
advantages. Shipping related services such as shipping
financing, international ship transportation, international
ship management, and international ship brokerage, will be
proactively encouraged. Additionally, the development of
freight index derivatives will be accelerated. Transition
and LCL businesses will be further promoted. Foreign ships
owned or indirectly owned by Chinese invested companies are
allowed to pilot the coastal shipping between domestic
coastal ports and Shanghai port. Pudong International
Airport is encouraged to increase the number of flights for
cargo transition. By utilizing the geographic advantages of
Shanghai and the preferential taxation on Chinese “flag of
convenience” ships, qualified ships will be encouraged to
register in Shanghai . The China (Shanghai) Pilot Free Trade
Zone will implement the international ship registration
policy as piloted in Tianjin . The application process on
permitting international shipping will be simplified to
create a more efficient ship registration system.
4) Deepen innovation and opening up of financial services
Accelerate the innovation of the financial system. Under
proper risk control, the China (Shanghai) Pilot Free Trade
Zone will pilot RMB capital account convertibility, interest
rate liberalization, and the cross-border use of RMB. In
China (Shanghai) Pilot Free Trade Zone, the assets by the
financial institutions will be at market rate. The China
(Shanghai) Pilot Free Trade Zone will explore the trial of a
foreign exchange administrative system that is in line with
international practice to better facilitate trade and
investment. Enterprises are encouraged to leverage on both
domestic and international market resources to liberalize
cross-border financing. Administration on foreign debt will
be further reformed to facilitate cross-border financing.
Foreign exchange centralized operation by multinational
companies&#39; headquarters will be enhanced to encourage the
setup of regional or global treasury centers in Shanghai . A
mechanism needs to be established to associate financial
reforms in the China (Shanghai) Pilot Free Trade Zone and
Shanghai &#39;s development into an international financial
Enhance the financial service function. The finance sector
will be fully opened to private investors and foreign
invested financial institutions. Foreign-invested and
Sino-foreign equity joint venture banks will be allowed to
incorporate in the China (Shanghai) Pilot Free Trade Zone.
Platforms for international transactions will also be
permitted to be established in the China (Shanghai) Pilot
Free Trade Zone by financial markets. The oversea companies
will gradually be allowed to engage in commodity futures
trading. Financial market innovations are encouraged. Equity
escrow institutions will be supported to setup comprehensive
financial service platform in the China (Shanghai) Pilot
Free Trade Zone. The cross-border RMB reinsurance business
is also encouraged to cultivate reinsurance market.
5) Improve regulatory supporting systems
i. &&& Strengthen protection through regulatory system
enhancements. A regulatory system of high standard
investment and trade rules will be developed rapidly to
serve the needs of the China (Shanghai) Pilot Free Trade
Zone. In regard to the content of the pilot, some
administrative regulations and provisions in the State
Council’s documents will be terminated according to the
prescribed procedures. Among these regulations and
provisions, certain administrative examination and approval
requirements under &Law of the People&#39;s Republic of China on
Wholly Foreign Owned Enterprises&, &Law of the People&#39;s
Republic of China on Sino-Foreign Equity Joint Venture
Companies&, &Law of the People&#39;s Republic of China on
Sino-Foreign Cooperative Joint Venture Companies& will be
temporarily adjusted and such adjustment will be tentatively
implemented in the next three years started from 1 October
2013. The government departments shall support the expansion
and opening of service industry in the China (Shanghai)
Pilot Free Trade Zone, the deepening of pilot reforms on the
implementation of &National Treatment& on investment
permission and &the Negative List& management approach, and
solve the problems in regulatory protection during the pilot
period. The Shanghai Municipal People&#39;s Government will
establish an administrative system through local legislation
in correspondence to the demands of the China (Shanghai)
Pilot Free Trade Zone.
3. &&&&& Establish an appropriate regulatory environment for
supervision and tax
In order to establish a service system for investment and
trade with international standard, an innovative supervision
model will be created to facilitate smooth transactions for
all goods and services under a highly transparent
administrative system within the China (Shanghai) Pilot Free
Trade Zone and to promote opening up in service sectors and
further development in goods trade. Meanwhile, under the
premise of keeping a fair, consistent and standardized
current tax system, related policies for the purpose of
functional development will be improved.
1) Create new mode of supervision
Simplify the import supervision model to realize &Frontier
Opening&. Enterprises are allowed to bring goods into the
China (Shanghai) Pilot Free Trade Zone with import manifests
before completing the customs declaration formalities with
entry and exit record list. The simplification on entry and
exit record list as well as the formalities on international
transit, LCL and distribution business will be explored. The
supervision techniques and approaches will be improved to
pilot the model of &import quarantine and relaxed
import/export inspection&. The construction of relatively
separated goods trading area (focusing on trade
facilitation) and service trade area (focusing on opening up
of service sectors) will be explored. Under the condition of
ensuring effective supervision, a categorized supervision
model will be explored to monitor goods based on their
import status. With respect to exploration on function
expansion, under the condition of strict implementation of
tax collection on imported and exported goods, exhibition
and trading platforms for bonded goods may be set up within
specified areas of China (Shanghai) Pilot Free Trade Zone.
Strictly enforce “Second-tier Effective and Efficient
Control”. The Customs administration process will be
optimized while the administration of &frontier& (i.e. goods
flow between overseas and the zone) and &second-tier& (i.e.
goods flow between the zone and other domestic areas) will
be coordinated by improvement on e-information network,
entry and exit record lists cross check, accounting books
management, physical verification, and risk analysis. An
inspection and quarantine model of &easily import and
export, with strict quality and safety risk control& will be
promoted. Actions will be taken to strengthen the management
of electronic Customs books and facilitate the smooth flow
of goods moving between the China (Shanghai) Free Trade Zone
and other domestic places in the charge of different Customs
offices. Enterprises within the China (Shanghai) Pilot Free
Trade Zone in principle will be allowed to re-invest and
conduct business outside of the zone without geographic
restriction, unless specific procedures required under the
applicable laws and regulations. The government will enhance
the connection of enterprises&#39; operation information and the
government&#39;s supervision system, through which effective
supervision can be realized through risk monitoring,
third-party management and security deposits etc. The
government will, through the development and utilization of
Shanghai ’s credit system, accelerate the formulation of
policies and mechanism in respect of enterprises&#39; business
credit management and exclusive jurisdiction of business
activities.
Enhance cooperation among authorities. Under the principle
of protecting national security and fair competition in the
market, collaboration will be strengthened between the
relevant departments and the Shanghai Municipal People&#39;s
Government to improve the capability to protect the economic
and social security. The China (Shanghai) Pilot Free Trade
Zone will collaborate with relevant departments of the State
Council to strictly implement the provisions in respect of
anti-monopoly investigations. In order to streamline
supervision, cooperation among various government bodies
will be enhanced, including that between the Customs,
Inspection & Quarantine, Industry & Commerce, Taxation,
Foreign Exchange and other administrative authorities. The
China (Shanghai) Pilot Free Trade Zone will set up a port
supervision institution with integrated functions, and
explore the feasibility of applying an electronic monitoring
system and setting up of effective risk management system.
2) Explore a supporting tax regime
Implement tax policies to boost investment. For enterprises
or individual shareholders registered in the China
(Shanghai) Pilot Free Trade Zone that carry out investment
using non-monetary assets, the income tax payable due to the
increase in asset valuation can be paid by installments
within a five-year period. Where enterprises within the
China (Shanghai) Pilot Free Trade Zone award highly-skilled
employees or employees in short supply by means of shares or
capital contributions, the relevant individual income tax
may be paid by installments as same as the policies piloted
in Zhongguancun.
Implement tax policies to promote trade. Financial leasing
companies registered or project companies set up by
financial leasing companies with registration in the China
(Shanghai) Pilot Free Trade Zone may enjoy the pilot
policies of export tax refund for qualified financial
leasing business. A domestic leasing company registered or
its project companies with registration in the Pilot Free
Trade Zone may enjoy reduced import VAT on an aircraft with
empty weight no less than 25 tons, provided that such
aircraft is to be leased to a domestic airline with approval
from competent authorities. Import VAT and consumption taxes
will be applicable in accordance with relevant laws and
regulations, on the products manufactured or processed by a
company within the China (Shanghai) Pilot Free Trade Zone
but sold to the Mainland China outside of the China
(Shanghai) Pilot Free Trade Zone. Enterprises will be
provided with the option of calculating import duty
according to the duty rates applicable to the finished goods
or the imported parts. Currently, the imported machines,
equipment and other goods required by manufacturing
enterprises as well as manufacturing service companies that
are set up in the China (Shanghai) Pilot Free Trade Zone,
may be exempt from import taxes, other than those imported
by consumer services companies or those which cannot enjoy
import taxes exemption as stipulated in laws and
regulations. Tax refund policies on the port-of-departure
will be improved, and the expansion on pilot scope (e.g.
departure ports, carriers and means of transport) will be
Additionally, in line with the direction of tax reform and
international practice, tax policies will be studied to
support the development of overseas equity investment and
offshore business, under the condition that such tax polies
do not lead to base erosion or profit shifting.
4. &&&&& Organize and implement effectively
The State Council will lead and coordinate the promotion of
the China (Shanghai) Pilot Free Trade Zone. The Shanghai
Municipal People&#39;s Government is responsible for organizing
implementation, improving the working mechanism, and
allocating detail responsibilities. Based on the targets
which were clearly set out in the Framework Plan and pilot
tasks, in accordance with the principle of “go ahead with
the matured ones and follow by perfection”, the Shanghai
Municipal People&#39;s Government can create a practical
implementation plan and enforce without delay. During the
implementing, the Shanghai Municipal People&#39;s Government
shall study new cases, resolve new problems and report to
the State Council in a timely fashion on significant issues.
All relevant departments need to support actively, provide
cooperation, guidance and evaluation feedbacks, work
together to promote the innovation on relevant system,
mechanism and policy, and construct and well-manage the
China (Shanghai) Pilot Free Trade Zone.
Measures to open up the service sectors in the China
(Shanghai) Pilot Free Trade Zone
1. Financial services
1. Banking service (Classification of National
Economic Industries: J Finance industry C 6620
Monetary banking service)
Opening up measures
(1)Qualified foreign financial institutions will be
allowed to set up wholly foreign-owned banks and
Sinoforeign equity joint venture banks with eligible
private capital within the China (Shanghai) Pilot
Free Trade Zone. Restricted license banks will be
allowed to be incorporated under certain conditions.
(2)Qualified Chinese banks will be allowed to
conduct offshore business under the condition of
improving related regulations and enhancing
supervision.
2. Specialized health and medical insurance
(Classification of National Economic Industries: J
Finance industry C 6812 Health and accident
insurance)
Opening up measures
Setup of foreign invested specialized health and
medical insurance institutions will be allowed.
3. Financial leasing (Classification of National
Economic Industries: J Finance industry C 6631
Finance leasing service)
Opening up measures
(1)The minimum registered capital requirements for a
project company (i.e. single-ship/aircraft company)
set up by financial leasing companies within the
China (Shanghai) Pilot Free Trade Zone will be
(2)Financial leasing companies will be allowed to
conduct commercial factoring that are related to its
primary businesses.
2. Transportation services
4. Ocean transportation (Classification of National
Economic Industries: G Transportation, warehousing
and postal industry C 5521 Ocean transportation)
Opening up measures
(1)Limitations on foreign participation in
Sino-foreign equity joint venture and Sino-foreign
cooperative joint venture international shipping
enterprises will be relaxed. The transport
administrative authorities of the State Council
shall be in charge of the rulemaking.
(2)Foreign ships owned or indirectly owned by
Chinese-invested companies are allowed to pilot the
coastal shipping between domestic coastal ports and
Shanghai port.
5. International ship management (Classification of
National Economic Industries: G Transportation,
warehousing and postal industry C 5539 Other water
transportation auxiliary service)
Opening up measures
Incorporation of wholly foreign-owned ship
management enterprises will be allowed.
&3. Commerce and trade services
6. Value-added telecommunications (Classification of
National Economic Industries: I Information
transmission, software and information technology
service C 6319 Other telecommunication service, 6420
Internet information service, 6540 Data processing
and storage service, 6592 call centre)
&Opening up measures
&Subject to the network information security,
qualified FIEs will be allowed to engage in specific
value added telecommunication services. Approval by
the State Council is required if the limitations
exist in current administrative regulations.
7. Entertainment and gaming consoles sales and
service (Classification of National Economic
Industries: F Wholesale and retailing C 5179
Wholesale of other mechanical and electronic
FIEs will be allowed to engage in the manufacturing
and sales of entertainment and gaming consoles. The
consoles with content passing the censorship by the
culture administrative authorities will be allowed
to be sold in the domestic market.
Opening up measures
4. Professional services
&8. Lawyer service (Classification of National
Economic Industries: L Leasing and business service
C 7221 Lawyers and related legal service)
Opening up measures
Cooperative mechanism between Chinese and foreign
law firms will be explored.
9. Credit inquiry (Classification of National
Economic Industries: L Leasing and business service
C 7295 Credit service)
Opening up measures
Incorporation of foreign invested credit information
companies will be allowed.
10. Tourism companies (Classification of National
Economic Industries: L Leasing and business service
C 7271 Travel agency service)
Opening up measures
Sino-foreign equity joint venture tourism companies
registered in the China (Shanghai) Pilot Free Trade
Zone will be allowed to engage in overseas tourism
business activities, with the exception of Taiwan .
&11. Human resources service (Classification of
National Economic Industries: L Leasing and business
service C 7262 Professional intermediary service)
Opening up measures
(1)Setup of Sino-foreign equity joint venture human
resources agencies will be allowed with the foreign
participation at 70% or below. Investors from Hong
Kong and Macau will be allowed to set up wholly
foreign-owned human resources agencies.
(2)The minimum registered capital for foreign
invested human resources agencies will be reduced
from USD300,000 to USD125,000.
&12.& Investment &management (Classification of
National Economic Industries: L Leasing and business
service C 7211 Headquarter s management)
&Opening up measures
Incorporation of foreign-invested joint-stock
holding companies will be allowed.
13. Engineering design (Classification of National
Economic Industries: M Scientific research and
technology service company C 7482 Engineering
investigation and design)
Opening up measures
Foreign-invested engineering design (excluding
engineering survey) companies registered in the
China (Shanghai) Pilot Free Trade Zone may be waived
from the requirement to provide the investor&#39;s
previous project records on initial application of
the relevant qualifications for those applicants
providing services in Shanghai.
14. Construction service (Classification of National
Economic Industries: E Construction industry C 47
Housing construction industry, 48 Civil Engineering
Construction, 49 Construction and Installation, 50
Building decoration and other construction)
Opening up measures
Wholly foreign-owned construction enterprises
registered within the China (Shanghai) Pilot Free
Trade Zone will be allowed to conduct Sino-foreign
joint construction projects in Shanghai regardless
of the extent of foreign participation in the
&5. Cultural services
15. Entertainment artist agency (Classification of
National Economic Industries: R Culture, sports and
entertainment C 8941 Culture and entertainment
Opening up measures
The limitation on foreign participation in
entertainment artist agencies will be removed. A
wholly foreign owned entertainment artist agency
will be allowed to set up to provide service in
Shanghai .
16. Entertainment facilities (Classification of
National Economic Industries: R Culture, sports and
entertainment C 8911 ballroom& recreation
activities)
Opening up measures
Wholly foreign-owned entertainment facilities will
be allowed to set up and provide service in the
China (Shanghai) Pilot Free Trade Zone.
6. Public services
&17. Education and training, vocational skills
training (Classification of National Economic
Industries: P Education C 8291 Vocational skills
Opening up measures
(1)Establishment of Sino-foreign cooperative joint
venture education and training institutions will be
(2)Establishment of Sino-foreign cooperative joint
venture vocational skills training institutions will
be allowed.
18. Medical service (Classification of National
Economic Industries: Q Health and social work C 8311
General hospital, 8315 Specialized hospital, 8330
Out-patient department)
Opening up measures
Establishment of wholly foreign-owned medical
institutions will be allowed.
Note: The opening up measures above only applicable to the
enterprises registered within the China (Shanghai) Pilot
Free Trade Zone.
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Keyword: China
(Shanghai) Pilot
Free Trade Zone,
China Free Trade
Shanghai Free Trade
Zone, Free Trade
Zone Investment,
Investment
Consulting}