Shanghai municipal government published on August 20, 2019 the Measures for the Administration of New Lingang Area of China (Shanghai) Pilot Free Trade Zone.
The regulation said the new area will build open-minded regulatory systems and expand openness to foreign investors in such key sectors like telecommunication, insurance, securities brokerage, research and technology services, education and healthcare. The area will strive to build a business cluster for high-end sectors like integrated circuits, artificial intelligence, biomedicine, civil aviation, new energy vehicle and intelligent equipment. The new area will continue to expand opening-up and introduce innovative institutional reforms.