1. Definition and Regional Scope of Shanghai Free Trade Zone

1.1 Definition: Shanghai Free Trade Zone, refers to a narrow sense of free trade zone, refers to a small specific area set up within a country or region to implement preferential tax and special regulatory policies, exempting customs supervision from giving foreign-funded enterprises access rights.
1.2 Area Scope: Shanghai Free Trade Zone covers four special customs regulatory areas, namely, Waigaoqiao Free Trade Zone, Waigaoqiao Free Logistics Park, Yangshan Free Trade Port Zone and Shanghai Pudong Airport Comprehensive Free Trade Zone, with a total area of 28.78 square kilometers.
1.3 The functional division of the four regions has its own emphasis: Waigaoqiao Bonded Zone is a comprehensive bonded zone which integrates many economic functions such as free trade, export processing, logistics warehousing and trade of bonded commodities; Waigaoqiao Bonded Logistics Zone focuses on third party logistics services, and its four functions include international transit, international procurement, international distribution and international transit; The functions of Shan Bonded Port Area focus on the development of international shipping. It will further open up and innovate in shipping logistics services and shipping financial services. The Pudong Airport Comprehensive Bonded Port Area will focus on the development of international goods transfer, international procurement and distribution, international transit trade and international express transport.

2. Preferential Tax Policies and Time Restrictions in FTA

2.1 We have learned from relevant persons of China Economic System Reform Research Association that there will not be too many preferential tax policies in the initial stage of China (Shanghai) FTA scheme, but they will be introduced in a spiral way in the later stage. At the initial stage, the preferential tax policy of FTA mainly continued the existing bonded zone policy, while the existing preferential measures included exemption of VAT and consumption tax for goods transactions in some regions.
2.2 In the future, there will be two main highlights in the assumption of preferential tax policies in FTA: income tax paid by installments in asset valuation and income tax paid by installments in equity incentives. Asset valuation value-added income tax payment by installments benefits listed enterprises, especially real estate development companies, park management companies and so on. The assets of listed companies operating in the FTA have a great value-added along with the concept of FTA, so they will pay more taxes, but the land does not bring cash flow. Paying income tax by installments can enable them to enjoy the value-added assets while the burden of cash flow is relatively small. The main beneficiaries of equity incentive to pay income tax by stages are individuals, which is more attractive to high-tech enterprises and private enterprises, and can attract more domestic entrepreneurs.

3. The industries involved in the FTA are the types of companies that can be registered.
Combining with foreign experience and market expectations, the FTA's policies in the four areas of trade, taxation, finance and investment are worth looking forward to, among which the revenue in the financial field may be more obvious. Combining with the development examples of foreign FTAs, the six major industries of international trade, finance, logistics, shipping services, information services and real estate are expected to benefit from the establishment or development of FTAs.

4. Conditions and Scope of Operation in FTA
Free Trade Zone has a wide range of business, and can be operated without special industries.

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