Shanghai called for FTZ tariff cut


Shanghai should eliminate tariffs in the pilot free trade zone to improve trading and enhance the competitiveness of domestic companies, says Fang Huaijin, vice president of the Shanghai International Port Group.

"Tax cuts are the general practice of international free trade zones," he wrote in a proposal to the session of CPPCC Shanghai Committee. "The tax policies in the Shanghai FTZ are less attractive compared to other FTZs in the world."

Fang suggested that Shanghai should implement a zero tariff policy for companies doing business in the FTZ and set out beneficial policies for industrial, manufacturing, shipping companies.

Source: Shanghai Pilot Free Trade Zone