The Lin-gang Special Area was officially inaugurated on August 20, 2019, as an expanded area of the China (Shanghai) Pilot Free Trade Zone (SHFTZ).

Last year during the first China International Import Expo, Chinese president Xi Jinping said that China has decided to build a new area in the SHFTZ maximizing trade and investment facilitation.

Located at the southeastern corner of Shanghai with convenient transportation links, the Lin-gang Special Area is committed to the liberalization of investment, trade, capital, transport and employment so that the entire world can profit from the Chinese market.

Two weeks ago, China’s State Council issued an overall plan for the Lin-gang Special Area at its press conference, emphasizing that with further opening up, this area will become a bolster for China to integrate into globalization. According to Wang Zhan, president of Shanghai Federation of Social Science Associations, China will spare no effort in building an open global economy.

From the establishment of the Shenzhen Special Economic Zone in 1980 to the full development of Pudong and the construction of the SHFTZ, China has been opening its door ever wider to the world. And this time, the birth of the Lin-gang Special Area marks a new pattern of China’s open economy.