Approved by the State Council in 1990, the Shanghai Waigaoqiao Free Trade Zone was one of the earliest and largest free trade zones in China.
It is at the northeast corner of the Shanghai Pudong New Area and next to the mouth of the Yangtze River. Thus it lies at the intersection of China’s eastern coastline and what has been referred to as the golden waterway.
The planned area of the zone is around 10 square kilometers and an area of 8.5 square kilometers is pretty much finished. About 2.76 million square meters of factory buildings and 2.57 million square meters with basic facilities have been completed.
5,712 enterprises from 72 countries and regions of the world have already entered the free trade zone, including 85 multi-national corporations of the Fortune Top 500.
EastDay.com reports that the bonded area has already become an important part of the move to promote the development of a new round of economy for both the whole city and the Pudong New District.