Lin-gang's intl trade in services tops $10b

The total international service trade of the Lin-gang Special Area in East China's Shanghai exceeded $10 billion for the first time in 2022, with year-on-year growth of nearly 40 percent, local authorities announced during an event held there on Feb 22.

The Lin-gang Special Area International Service Trade Industry Alliance was established at the event, with 17 units – including the National service trade guidance fund for innovative development and the Shanghai Lingang Economic Development (Group) Co Ltd - joining the first batch of members.

Dishui Lake Financial Bay was also honored at the event with the designation of Shanghai service trade demonstration base by the Shanghai Municipal Commission of Commerce.

As an important area to carry Lin-gang's special economic functions, its Dishui Lake Financial Bay has to date attracted 46 Fortune 500 companies from around the world and 61 top 500 companies in China. It has performed the functional pattern of a modern service sector dominated by cross-border financial services, new international trade and high-end international shipping.

In addition, one of the area's developers the Lingang Group signed a cooperation agreement at the event with the Hong Kong and Shanghai Banking Corporation for a new international trade cross-border development in Lin-gang.

With Dishui Lake Financial Bay as the functional carrier, the two will carry out cooperation in cross-border financial services, new international trade and the Yangtze River Delta Integration.