FTZ land to be built up to alleviate shortage
Print Edition
SHANGHAI’S land planning authority will encourage comprehensive land development in the city’s pilot free trade zone as it tries to ease a land shortage and promote industrial upgrading in the zone.
Idle land parcels in the FTZ can be converted into land for multi-purpose development to boost the efficiency and quality of land utilization, the Shanghai Planning and Land Resources Administration said in a statement released on the website of China (Shanghai) Pilot Free Trade Zone.
The price land holders should pay for conversion should be based on market evaluation, according to the statement.
“Land planning in the zone aims to improve the zone’s regional functions and supporting facilities and to promote industrial restructuring and upgrading in the zone,” the statement said.
Dai Haibo, deputy director of the zone’s administration committee, said earlier that idle land parcels in the FTZ, most of which are designed for industrial use, would be redeveloped to encourage service-oriented businesses.
Around 80 percent of the land in the zone are now allotted for industrial use and newly-registered companies find it difficult to find an office space in the zone.
The authority has also set rules on land supply, land transfer, price management and land use in the zone. Land used for industrial and logistics projects carries a maximum term of 20 years, while the use of land for key industrial projects and strategic emerging projects should not exceed 50 years.
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