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February 25, 2021

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Hongqiao to apply for duty-free expansion

By Huang Yixuan | 00:00 UTC+8 February 25, 2021 | Print Edition

SHANGHAI Hongqiao International Airport plans to apply for expansion of its duty-free shopping area and pilot a tax refund policy scheme.

The move is part of a plan that was released yesterday which envisions the Hongqiao area as an international open hub with stronger capacity.

As per the plan, which has been approved by the State Council and issued by the National Development and Reform Commission, the hub will be set up by 2025 and construction completed by 2035. In five years, the Hongqiao CBD and new platforms of Hongqiao international trade center will see the functional framework and systems fully established.

Meanwhile, the level of integrated traffic management in Hongqiao will be significantly improved by 2025, and the area will play a better role in serving the Yangtze River Delta and connecting with the world, according to the city’s development and reform commission.

By 2035, the fully-developed Hongqiao International Hub for Opening Up will serve as an important carrier to promote the integrated development of the Yangtze River Delta, enhance China’s opening-up level and strengthen the new advantages of international competition and cooperation, the commission said.

In line with the overall scheme, the Hongqiao Central Business District Administrative Committee pledged to carry out the measures and lay emphasis on the key tasks. It will upgrade the industry and build a first-class international CBD, focusing on the development of modern high-end service sectors such as the business exhibition industry.

The committee also highlighted the China International Import Expo, pledging to expand the spillover effect of CIIE, so as to build a high-quality innovative demonstration zone for promoting national imports.

It also aims to establish a new integrated transportation portal connecting the world and China. Efforts will be made to build transport infrastructure of higher quality and improve the core functions of Hongqiao’s comprehensive transport hub.

New channels for efficient allocation of global high-end resources and factors will be set up as well.

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