Waigaoqiao Free Trade Zone

Waigaoqiao Free Trade Zone was founded under the approval of the State Council in June 1990 and started operation in September of the same year. The total planning area of the Free Trade Zone is 10 square kilometers. The Free Trade Zone is located in Pudong New Area of Shanghai. It is near the Yangtze River Estuary and Waigaoqiao Port Area, which is the intersection of the golden watercourse and golden coastline. It is a bonded area with the largest economic aggregate among the 15 bonded areas in China.

Waigaoqiao Free Trade Zone is an economic area with means of isolation and under special administrative measures. Commodities (except prohibited import and export commodities and commodities under special regulations) could enter and exit between the bonded area and overseas regions freely, without the need of paying customs duties and import duties, and going through procedures of license inspection and customs supervision.

Shanghai Waigaoqiao Free Trade Zone Administration is an agency of Shanghai Municipal Government. It manages the administrative affairs of the Free Trade Zone in accordance with the “Regulations of Shanghai Waigaoqiao Free Trade Zone” promulgated by Shanghai NPC. The practices management of Waigaoqiao Free Trade Zone is implemented by Shanghai Customs in accordance with the “Customs Supervision and Control Measures for Waigaoqiao Free Trade Zone”.

Shanghai Waigaoqiao Free Trade Zone absorbs the advanced development concept of developed countries and makes development plans according to the local economic and geographical conditions. It has become a comprehensive bonded area that combines international trade with advanced manufacturing, modern logistics and exhibition, trade of bonded commodities. Waigaoqiao Free Trade Zone is an important modern logistics industry base in Shanghai, an important import and export trade base in Shanghai, and an integral part of the micro-electronics industry in Shanghai.

By the end of 2008, 10,242 projects from 94 countries and regions have been approved by Waigaoqiao Free Trade Zone. 111 “Fortune 500” enterprises have been settled here. The Free Trade Zone has attracted total investment of US$16.06 billion and contractual foreign investment of US$7.41 billion. US$5.03 billion of foreign investment has been in actual use. There are 190,000 employees in enterprises in the Free Trade Zone, and more than 9,200 are foreign employees.