21 February 2020

Fresh policy initiatives for Shanghai FTZ, govt says

The Ministry of Finance, the General Administration of Customs and the State Administration of Taxation announced in a circular Thursday a series of favorable policies for the Shanghai Free Trade Zone (FTZ), the government web portal reported Thursday. The policies include offering reduced value-added tax rates to aircraft rental companies in the FTZ which are approved to import aircraft with empty weight of more than 25 tons, duty-free arrangements for business equipment, facilities and goods for manufacturing firms in the zone, and the setting up of bonded area transaction platforms in specific parts of the trade zone, the report said.

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