Key Lin-gang Special Area local regulations set to debut
The Regulations of the Lin-gang Special Area of China (Shanghai) Pilot Free Trade Zone will come into effect on March 1 – which is expected to facilitate local investment, trade, transportation, the flow of data and the development of frontier industries.
The regulations are based on the original Administrative Measures for the Lin-gang Special Area of the China (Shanghai) Pilot Free Trade Zone. They are seen as further improving foundations for the construction of the Yangshan Free Trade Zone.
The regulations are understood to have been drafted to reflect the important achievements in reforms and innovation in Lin-gang – as well as to set standards at the highest international levels that also respond to domestic experiences.
The regulations have 10 chapters and 55 articles, including information on general rules, free investment, free trade and transport, free capital, free employment and talent guarantees.
They also include material on data flows, the development of cutting-edge industry, risk prevention, the protection of rights and interests and supplementary provisions.
Moving forwards, plans are for the Lin-gang Special Area Administration to put together a work plan for the implementation of the regulations with municipal departments.
Lin-gang Special Area announces its first local regulations on Feb 18. [Photo/WeChat account: shlgguanweihui]
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