Lingang promotes full and high-level openness
Lingang has reshaped customs supervision and optimized the operation of the Yangshan Global Special Bonded Zone as part of Lingang’s efforts to deepen its opening-up.
The Yangshan bonded area is the only one of its kind in China to have implemented a new supervision system of “first-line direct release, second-line unilateral declaration and no customs account book in the bonded area”.
“For businesses, this kind of ‘invisible’ supervision can greatly improve customs clearance efficiency and reduce costs,” Wan Jun, head of Shanghai Customs Free Trade Division, told the Shanghai Daily.
In the first half of this year, the goods released in the first line of Yangshan have increased six times compared to the same period a year ago.
In addition, Shanghai Customs has also launched the “one company, two sites” supervision mode. And Shanghai Aircraft Manufacturing Co is among those benefiting from the practice that brings stakeholders together across the industry chain.
“The new supervision mode has realized the integration of enterprise information systems inside and outside the bonded area, as well as the integration of supervision subjects and supervision modes for the first time in China,” said Wang Xianglong, deputy head of the system division of the Lingang Special Zone Administrative Committee. “He also explored a new concept of customs main zoning mode.
“Meanwhile, the development of coastal portage business and bonded LNG filling business has effectively boosted the development of high-end shipping industry in the special zone,” added Mr. Wang.
At present, 90% of the 78 tasks of the overall plan for the Lingang Special Zone of the China (Shanghai) Pilot Free Trade Zone have been completed.
Over 260 policies at the national, municipal and regional levels have been issued since the establishment of the special zone in 2019, forming 87 representative and leading institutional innovations, 36 of which are the first of their kind in China.
Innovation policies such as access to enterprises and taxation are implemented to promote the agglomeration of pioneer industries.
Lingang strives to build four main industries: integrated circuits, biomedicine, artificial intelligence and civil aviation; two cutting-edge industries – high-end equipment manufacturing and smart new-energy vehicles; and two “future” industries – hydrogen power and green remanufacturing. It develops and sets up a cutting-edge industrial cluster with key basic technologies as a breaking point.
Some major industries have made remarkable achievements in the agglomeration of the whole industrial chain in the past three years.
Among them, more than 300 projects have been signed in the advanced science and technology industry, involving a total investment of more than 420 billion yuan ($61 billion).
Construction of Tesla’s Gigafactory in Shanghai began in January 2019, and it went into production that year – such speed is hailed as “Lingang’s speed”.
Lingang has taken the initiative to carry out pilot projects to strengthen the implementation of competition policy and the reform of the trading system.
It eased due diligence, improved supervision during and after registration, took the initiative to implement the registration and confirmation system of market entities in the special zone, promoted the change of registration of market entities from administrative licensing to administrative licensing, and changed substantive review to formal review, in order to reduce the institutional cost of establishing market entities.
Tax preference is a common feature of major free trade zones and free trade ports around the world. The state tax administration has successively issued a series of policies tailored to Lingang and offered attractive tax reductions, such as a 15% reduction in corporate tax for companies in key industries.
Qian Qianying, CFO of SenseTime Technology, told the Shanghai Daily that the tax preference is one of the main reasons SenseTime is locating its supercomputing center and smart car business in Lingang.
“It has had a positive impact on the future layout of our businesses, as well as personal income tax relief,” she said.
Tax policy has become an important engine of growth to accelerate Lingang’s quality development. Over the past three years, there have been more than 63,000 newly registered businesses in Lingang, and around 90 startups have been established every day. In 2021, the introduction of domestic talent increased by 216% year-on-year.
Many institutional innovations introduced by financial regulatory authorities, including the pilot reform of foreign exchange management for cross-border trade and investment, and the facilitation of cross-border settlement, investment and financing, have brought conveniences to businesses.
Li Jing, general manager of Shanghai Lingang Special Area Cross-border Data Technology Company, said innovation from existing rules is key to building a cross-border data flow platform.
“In order to facilitate the movement of data within the country and across the country’s borders, the legislation has been improved through the joint efforts of all parties,” Li said. building the data platform in terms of a system.”
Li said the cross-border data flow pilot project has started. It promotes the coordinated development of international data port and data exchange, explores the construction of an “international committee” for data trade, pilots overseas data trade in Shanghai, and creates a new model of “Shanghai Trade and Global Delivery”.
Meanwhile, Lingang has opened 549 kilometers of automated driving test roads, providing a good practice field for the development of intelligent connected vehicles.
The Yangshan Port driverless heavy truck, driverless buses and taxis will also be put into operation in Lingang.
On August 18, Lingang released the Dishui Lake AI Innovation Port Plan, striving to gather 20,000-30,000 AI professionals and 500 enterprises in three years, with an industrial scale reaching 50 billion yuan.
It aims to become a new plateau for the development of Shanghai’s artificial intelligence industry and an important gathering place for the domestic artificial intelligence industry.