Investment: Area and Shanghai Ftz

investment: According to the conference, the start-up area of the Lingang New Area will cover 119.5 square kilometers, and it will have policies to facilitate investment and operation, trade and the flow of funds, according to Global Times China. Over the next five years, 100 billion yuan 14.2 billion will be allocated for investment in the Lingang New Area, Shanghai Vice Mayor Chen Yin said during the conference. The addition of the Lingang New Area to the Shanghai FTZ shows China's determination to open up its economy and facilitate freer activity in trade, investment and finance, and it will encourage a new round of opening up in the rest of China, according to experts. The New Area is not just simply an expansion of the Shanghai FTZ, it is a brand new investment with a higher standard and position, Chen said. Tax breaks, including a 15 percent preferential tax for companies in the integrated circuit, artificial intelligence and other leading industries in the first five years of operation, will be introduced to the new area. Apart from a large investment, policies will also be announced to attract more talent and international investment and companies to the new area. (news.financializer.com). As reported in the news.