Yangshan Free Trade Port Area (YFTPA) needs to deepen its innovation systems to create a better investment climate for more international businesses, said Weng Wei, general manager of the Shanghai Free Trade Zones United Development Co (FTZUDC).
It has worked out new policies to push forward its efforts to provide a one-stop procedures clearance pattern service, let foreign investors enjoy accepted national standards in the company setting up period, and allow financial institutions to access market-oriented pricing, said Weng.
"Those policies will help to accelerate the port's trade and investment growth," he said, adding that YFTPA now encourages transnational corporations to set up Asian-Pacific headquarters or operations centers.
As the first free trade port area of China, YFTPA occupies the largest portion of Shanghai's Free Trade Zone and is operated by the FTZUDC.
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