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Art bonded warehouse to open in Xuhui
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An art bonded warehouse will open in an art and cultural entertainment zone in Shanghai’s Xuhui District by the year-end, officials said yesterday.
Teaming up with its Singapore Freeport partner, the zone will copy the experience gained from Shanghai’s pilot free trade zone in the Pudong New Area. It hopes to be part of the pilot FTZ in future, said Xuhui officials, without providing details.
So far, overseas and domestic entertainment and culture giants like DreamWorks and BesTV have invested in the zone on the banks of the Huangpu River. More than 165 firms have set up facilities in the zone with a combined registered capital of 3.12 billion yuan (US$512 million).
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