Yangshan FTZ posts cracking Q1 start

The Yangshan Free Trade Zone in the Lin-gang Special Area – located in East China's Shanghai – recorded a strong start in the first quarter, with the value of imports and exports hitting 62.91 billion yuan ($9.11 billion), up a whopping 49 percent year-on-year.

The zone's wholesale and retail sales of goods priced at over 1,000 yuan came in at 130.63 billion yuan, a year-on-year increase of 57.2 percent.

Meanwhile, the regional operating income hit 258.48 billion yuan, up 67.8 percent year-on-year, while regional tax revenue increased by 33.6 percent. Fixed-asset investment soared by 166 percent year-on-year to 2.74 billion yuan.

Key projects continued to settle in the Yangshan FTZ from January to April, with the signing of important projects for the Cainiao international smart flagship warehouse, among others.

Also such projects as COSCO Shipping's green intelligent vessels and Dubai's global e-commerce platform Dubuy.com have also been established in the FTZ.

In addition, global logistics and transport giants like Denmark's Maersk and China's COSCO Shipping have started constructing new operations there. It is widely said that these achievements have significantly accelerated the development of the Yangshan FTZ.