Shanghai government plots downtown duty free drive
Published: 11/03/10
Source: China Daily; The Moodie Report
By Dermot Davitt
CHINA. The Shanghai municipal government is planning to develop the downtown duty free business as part of its strategy to enhance the city’s status as a major international centre for trade, according to a report in China Daily.
The municipal government aims to make Shanghai a leading financial and shipping hub by 2020 and would offer favourable trading conditions for companies from China and the rest of the world. Its proposals still need final approval from the State Council, according to the report.
A priority this year under the plans is the setting up of duty free stores in the city, similar to those that operate in Hong Kong.
The Moodie Report has consulted China Duty Free Group about the report. The company said it was seeking further details on the proposals before commenting.
To date, downtown duty free shopping is available on a limited basis in Mainland China, including in Beijing, Shanghai and other locations such as Chongqing, where Chongqing ZhongFuFuSheng Service Corporation operates the recently opened Chongqing Duty Free store. These stores are available to Mainland Chinese travellers who can buy duty free after their return to the country.
Other key elements in the Shanghai city plan include setting up an exchange centre for the import and export of goods, developing e-commerce and commodity markets, plus the construction of the Hongqiao Business District and the Shanghai International Air Harbor Business Zone.
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