Overall Planning: to the south of Dazhi River, east of Jinhui port and Xiaoyangshan island and south of Pudong International Airport, the area of 1.195 million square kilometers were launched first

Office Rent Fee: 2.80-8.00/day/square

Key Supporting Enterprises: integrated circuit, artificial intelligence, biomedicine, civil aviation, etc.

Enterprise Income Tax: reduce to 15% for qualified enterprises within 5 years

Personal Income Tax: subsidy for tax burden balance of foreign talents

Indirect Tax: expand the export VAT preferential policies

Features of Special Area:

1. Investment Liberalization

1.1 Deepen opening up policies

• Relax restrictions on registered capital and investment methods of telecommunications, insurance, securities, scientific research and technical services, education and health
• Allow overseas well-known arbitration and dispute resolution institutions to set up business institutions in the special area to develope arbitration business
• Relax the proportion of shares held by foreign financial institutions and expand the business scope of foreign financial institutions
• Support qualified overseas investors to establish financial institutions in accordance with the law

1.2 Management procedure facilitation

• Try out the registration and confirmation system of commercial subjects
• Conduct formalities check on the documents submitted by the applicant

2. Capital Liberalization

2.1 Process facilitation

• Further simplify the cross-border RMB business process of high-quality enterprises

2.2 Capital flow liberalization

• Pilot the integration of local and foreign currencies of free trade accounts
• Exploring the free inflow and outflow of capital and free exchange in the special area

2.3 Support cross-border financial activities

• Support enterprises in the special area to carry out cross-border financial activities in accordance with international prevailing rules
• Support financial institutions to provide cross-border financial services such as cross-border bond issuance, cross-border investment, M&A and cross-border capital centralized operation for enterprises and non residents in the special area
• The funds raised by enterprises in the special area from abroad, the funds raised by qualified financial institutions from abroad and the income from providing cross-border services can be independently used for the business and investment activities in the special area and abroad
• Support qualified financial institutions to carry out cross-border securities investment and cross-border insurance asset management business

3. Trade and Transport Liberalization

3.1 Establishment of special areas

• Etablishment of purse seine area
• Establish Yangshan special comprehensive bonded zone

3.2 Simplified procedures

• Cancel trade regulatory, licensing and procedural requirements
• Implement a safety based supervision model for overseas goods arriving and leaving the physical fence area
• Exploring the free inflow and outflow of capital and free exchange in the special area

3.3 Highly open international transportation management

• Enhance and expand the function of global hub port
• Gradually release the legal inspection of ships
• For domestic manufacturing ships registered in "Yangshan Port of China" for international transportation equivalent to export, and enjoy export tax rebate
• Further improve the relevant tax refund policies of the port of departure

4. Staff Turnover Liberalization

4.1 Free and convenient personnel management

• More open and convenient in entry-exit and application for permanent residence of foreign talents
• Establish the work permit system and talent visa system for foreigners in the special area
• Professionals with overseas professional qualifications are allowed to provide services in the special area after registration
• Provide more convenient visa and residence permit policy for foreigners engaged in economic and trade activities
• Foreigners are allowed to apply for the relevant vocational qualification examination in the special area