Pioneer grows in size, scope

The State Council approved the expansion of the China (Shanghai) Pilot Free Trade Zone last month by incorporating the Lujiazui Financial Area, Jinqiao Export Processing Zone, Zhangjiang High-Tech Park and Expo Park Development Zone. That move enlarged the FTZ from 28.78 square kilometers to 120.72 sq km and offered more space for reform trials.

The enlarged FTZ has more than 73,900 companies, about 16,300 of which are foreign-invested entities. The expansion improved the industrial diversity of the FTZ, Zhu Min, deputy director of the administrative committee of the FTZ, recently said.

Before the expansion, 80 percent of enterprises in the zone were trade and logistics companies. Now there are many more companies from the financial sector, as well as from the advanced manufacturing and high-technology industries.

SOURCE: WWW.SHANGHAI.GOV.CN