The new area will facilita上海乌托邦nvestment and cap

capital flows and realize the free flow of goods, according to the plan.

上海乌托邦The area will be built into a special economic function zone with global influ

ence and competitiveness, to better serve the country’s overall opening-up strategy, it says.

上海乌托邦By 2025, the Lingang area will have a relatively mature institutional system of investment and trade liberalization and faci

litation. By 2035, it will be built into a special economic function zone with strong global market influence and co

mpetitiveness, becoming an important platform for the country to integrate into economic globalization.上海乌托邦

The addition of the Lingang area is a major strategic decision made by the Communist Party of China Central Co

mmittee to further opening up, Vice Commerce Minister Wang Shouwen told a press conference Tuesday.上海乌托邦品茶微信

It also demonstrates China’s clear stand to adhere to all-round opening up in the new era an

d an important measure taken to actively lead the healty development of economic globalization, Wang said.

上海乌托邦An institutional system with “investment and trade liberalization at its core” will be established in the area, Wang said.

It will be supported in promoting investment and trade liberalization and facilit

ation, including free flow of investment, trade, capital, transportation and employment, the plan says.上海乌托邦品茶微信

According to the plan, a tax system and policy with international competitiveness will be implemented in the area.

Income tax shall be levied at a reduced rate of 15 percent within five years fro

m establishment for qualified enterprises engaged in manufacturing and R&D in ke上海乌托邦

y fields including integrated circuits, artificial intelligence, biomedicine and civil aviation, says the plan.

China will study and implement subsidy policies for the balance of personal i

ncome tax on overseas talents, and explore tax policy arrangements for pilot fr上海乌托邦品茶微信

ee trade accounts under the prerequisite that they do not lead to tax base erosion and profit shifting, it says.

The area will improve risk prevention and safety supervision and s

et up an open industrial system with global competitiveness, according to the plan.

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