·Chinese(gb) ·English ·ฉบับภาษาไทย ·Tiếng Việt
WAPWeb Accessibility RSS
Home About Liuzhou Government Liuzhou News Live in Liuzhou Travel in Liuzhou Invest in Liuzhou Interact
Current Location:  Home > Liuzhou News > Economy & Business > Finace News
 
Shanghai to add more free trade accounts: mayor
 
Date:2018-01-30  Source:Xinhua

SHANGHAI, Jan. 29 (Xinhua) -- Shanghai will add more free trade accounts, a measure aimed at easier financing for companies in the city.

A total of 70,000 free trade accounts have already been opened in Shanghai and total financing exceeded 1.1 trillion yuan, said Ying Yong, mayor of Shanghai, on Monday.

The accounts became operational starting from 2014 in the free trade zone in Shanghai, located in the Pudong New District. Companies registered in the FTZ use the accounts for financing, investment and other cross border transactions.

The accounts enable funds to move freely between the FTZ and offshore entities, while curbing speculative risks from overflowing in the onshore financial system.

Ying said the free trade account system was an important innovation in financial reform. "Shanghai will allow more companies to open free trade accounts," he said.

"Shanghai plans to build a free trade port in an effort to facilitate trade and investment. The port will be built in the Yangshan Deep Water Port and Pudong International Airport," Ying said.

A free trade port is set up within national or regional borders but outside its customs supervision. It is a highly opened-up area that allows the free flow of most commodities, currencies and personnel.

   Print   To Top    Close  
0

Related Articles

China to train farmers as part of agricultural sector reform
Wanda, Tencent partner to upgrade retail business
China pushes technology development to modernize agriculture
Spanish actor Placido Domingo meets press in Beijing
China Focus: 200 days on "moon": China life support lab breaks record
China launches cloud platform of integrated circuits, microsystems
China to launch 60 Jilin-1 video satellites by 2020
Sample machine for China's exascale supercomputer operational this year
China's scientific journals reach over 5,000 types
China's industrial firms see faster profit growth in 2017
   
Home  │ About Liuzhou  │ Site Map  │ Service and Privacy │ FAQ │ Download Forms   │ Contact Us
Copyright (C) 2006 The People's Government of Liuzhou Municipality,All Rights Reserved
Sponsored by Liuzhou Informational Leading Group Office (The Bureau Of The Information Industry Of Liuzhou)
Prepared by Liuzhou Network Management Centre Address:No. 66, Sanzhong Road, Liuzhou, China
ICP Certificate No.05009280