The Shanghai Free Trade Zone Has Launched 14 New Replicable And Promotional Systems.

< p style= "text-align: center" > < img border= "0" align= "center" alt= "" src= "" /uploadimages/201404/26/20140426092253_sj.JPG "/" < > > "

"P > China (Shanghai)" a href= "http://sjfzxm.com/news/index_s.asp" > Free Trade test area < /a >, and a number of institutional innovations.

Shanghai customs has launched 14 "replicable and promotional" regulatory services system for free trade zones.

< /p >

< p > according to the introduction, before May 1st, there were seven systems that the customs had or was about to implement, including the advanced and post declaration system; the self pportation system in the area; the single paction verification system for processing trade; the bonded display and trading system; the domestic and international maintenance system; the futures bonded delivery system; the financial leasing system.

< /p >

There are seven systems to be promoted and implemented in batches in May 1st, P 30, May 1st: batch import and export, centralized declaration system; simplified customs clearance operations with attached documents; unified filing list; selective taxation system for domestic sales; centralized tax collection system; bonded logistics networking supervision system; intelligent bayonet inspection and management system.

< /p >

< p > it is learnt that the China (Shanghai) free trade pilot zone Ordinance (Draft) has been submitted to the Shanghai Municipal People's Congress for the first time.

60 laws and regulations, negative list management mode, industrial and commercial registration system, financial and government regulation mode reform and innovation measures have been confirmed.

< /p >

< p > < strong > Shanghai free trade area will build commodity trading platform < /strong > /p >

< p > the Shanghai municipal government promulgated the Interim Regulations on the management of commodity spot market pactions in China (Shanghai) free trade pilot area in April 21st. According to the news issued by the Commerce Commission at the beginning of the year, the first batch of eight markets will be settled.

< /p >

< p > the regulations shall come into force on May 1, 2014 and shall be valid for 2 years.

This means that there are no institutional barriers to the operation of the commodity electronic spot market in the free trade area.

According to the Shanghai Securities Journal, the relevant departments are now developing relevant rules in terms of trusteeship, liquidation, warehouse receipt publicity, customs and taxation, so as to meet the arrival of the new era of commodity spot market.

< /p >

< p > April 23rd, Hu Xiaochun, Secretary of the board of Shanghai Steel Union, said in a Bloomberg interview that eight companies such as Baosteel and Shanghai steel have been approved to set up trading platforms in the free trade area.

Baosteel spokesman said in April 21st that Baosteel is working with the Shanghai government and its partners to build an iron ore trading platform in the FTA.

< /p >

There were also reports in < p > strong > April 22nd: < /strong > /p >

< p > Baosteel Group intends to set up an iron ore trading center in the free trade zone; Shanghai Steel Union proposes a commodity trading center; Shanghai nonferrous metal network will set up a non-ferrous metal trading center; MEIKO finance will set up a non-ferrous financial trading center; Beijing's national a href= "http://sjfzxm.com/news/ index_s.asp" > cotton < /a > ready market cotton trading center; Yi Trade Group plans to build a liquefied Trade Center; Shanghai petroleum exchange plans to build oil and natural gas trading center; Shanghai Huatong platinum silver trading market to build silver trading center.

< /p >

< p > Chinese leaders are working to build Shanghai into an Asian financial centre to attract more foreign investment.

The FTA, which occupies 29 thousand square meters, was established in September 2013, and became an experimental field for the government to liberalize interest rates, implement RMB convertibility and other market tools.

< /p >

Fu Peng, chief macroeconomic adviser of Galaxy futures, < p > < strong > thinks: < /strong > /p >

< p > China hopes to enhance its impact on the market of "a href=" http://sjfzxm.com/news/index_s.asp "commodity" /a "and hope that more commodity trading can be carried out at the" doorstep ".

< /p >

< p > at the same time, the FTA is also in line with the need of the Chinese government to promote RMB to become an international settlement and investment tool.

< /p >

Zhou Jinxiang, spokesman for the free trade area, said yesterday that it did not comment on specific company activities. P

Shanghai already owns China's largest metal futures exchange and the only official spot gold market.

< /p >