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Lin-gang Special Area to promote development of service sector

en.lgxc.gov.cn| Updated: May 11, 2020 L M S

Lin-gang Special Area of the China (Shanghai) Pilot Free Trade Zone announced guidelines to further promote the development of the area's service sector on May 9.

The guidelines are the first to be released for the service sector since the establishment of Lin-gang Special Area last year. They aim to promote the balanced development of secondary and tertiary industries.

The guidelines focus on six fields – new-type international trade, cross-border finance, high-level shipping, professional services, information services, and business, cultural, sports and travel services. The area will be divided into four agglomeration areas, including a modern service industry cluster area for cross-border finance and new type of international trade, professional services cluster, high-end shipping services cluster and international modern urban life service industry cluster.

According to Ouyang Bin, deputy director of the division of development and reform of the Lin-gang Special Area Administration, by 2025 the added value of the tertiary industry of Lin-gang Special Area will grow at an average annual rate of over 20 percent, and three to five "China Lin-gang" related brands in the high-end service industry cluster will be created.

The guidelines will remain valid until Dec 31, 2022, and adjustments will be made as needed.

To learn more about the guidelines, please refer to the authoritative Chinese version.

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