The area is included in the coordination innovation zones of the SEZ

Minhang District was recently selected as one of Shanghai’s first group of innovation free trade coordination zones, along with Huangpu, Xuhui, Hongkou, Yangpu, Baoshan and six comprehensive bonded zones – Songjiang, Caohejing, Fengxian, Jinqiao, Qingpu and Jiading.

These FTZ innovation coordination zones will develop their own specific plans to expand the ripple effects of the FTZ in the Pudong New Area.

In Minhang, the selected region includes the Hongqiao International Central Business District (Minhang Sector) in the north and the Grand NeoBay Science and Technology Innovation Zone in the south.

The county’s overall 46 square meter FTZ innovation coordination zone will be expanded with new international trade and high-tech smart manufacturing, while measures will be taken to ensure the expansion of the capacity of the Hongqiao Central Business District Customs Logistics Center (Type B), upgrade the function of public bonded warehouses, joint the use of scientific and technical research equipment and the development of interregional industrial cooperation in the field of high-tech equipment.

The first batch of coordination innovation FTZs will build on the achievements and experiences of the Shanghai Pilot Free Trade Zone and the Lingang New Zone, and will meet the needs of corporate businesses, especially in reducing trade red tape, cross-border fund settlements and foreign talent services.

The zones will further feed and benefit from sectors performing well in the Lingang New Area, such as integrated circuits, new energy vehicles, new foreign trade and science and technology innovation platforms.

It is expected that future reconstruction of FTZ coordination innovation zones will continue to be as productive as the FTZ.