Shanghai FTZ introduces "model company" selection

The China (Shanghai) Pilot Free Trade Zone (FTZ) launched a "model company" selection campaign on July 4, aiming to highlight the FTZ's innovation and reform achievements over the past three years.

As examples of successfully utilizing FTZ's innovative measures to enhance growth and development, ten model companies are expected to be selected.

According to Wang Ying, an official at the Shanghai FTZ administrative committee, the operative methods of selected companies will be promoted as role models with the hope of benefiting more FTZ companies.

Wang added that the event intends to encourage more FTZ companies to turn the Zone's innovative measures and preferential policies into their own advantages and growth points.

The selection is accessible to all the FTZ-registered companies that have employed the Zone's innovative policies such as free trade account and simplified custom clearance procedures.

Companies can sign up for the activity via self-recommendation or recommendation by others.

The application form can be downloaded at the official Shanghai FTZ website (www.china-shftz.gov.cn) and should be sent to the email address: sdybqyvip@163.com.

Registration for self-recommendation companies will close on July 21. The entire selection process is set to be completed in mid-September, and an award ceremony for the winning companies will be held at the end of September.

The Shanghai FTZ has been pursuing innovation and reform for the benefit of its companies since its inauguration on September 29, 2013. A large number of companies have noticeably benefited from the Zone's innovative measures over the past few years.

Statistics show that between September 2013 and April 2017, Shanghai FTZ acquired 45,000 new companies, 8,300 of which are foreign-funded, an accelerated influx close to the total number of foreign-funded enterprises obtained in the previous two decades.