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FTZ aims as gateway to global markets
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SHANGHAI’S pilot free trade zone will continue to enhance services and improve tax policies to benefit outbound investment as it strives to become a major gateway to international markets, said a senior zone official yesterday.
“The FTZ will create a system that will integrate capabilities of intermediary agencies such as law firms, accounting companies and financial service companies,” said Jian Danian, deputy director of the zone’s administration.
“It aims to provide enterprises with services that can cover the full circle of outbound investment,” Jian said.
Since the FTZ was set up in 2013, companies there have invested US$18.4 billion into various sectors such as information technology, real estate and biomedicine in 42 countries and regions, official data showed, benefiting from simpler administrative process and easier financing channels.
Jian said the zone is also banding with finance and tax authorities to improve tax policies for overseas private equity investment and offshore businesses.
The Outbound Investment Promotion and Services Association was set up in the zone yesterday to further boost outbound investment.
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