Shanghai can catch key in entrepot trade in Hong Kong

Since the state council has officially approved after Shanghai free trade region, yesterday, the 4th meeting of the 12th session of the standing committee of the National People's Congress and heard about in the test zone of the state council authorized to suspend the implementation of laws and regulations. This marked the Shanghai free trade zone is gradually from the decision-making level to the practice of the legislative level.

The biggest advantage of free trade zone of Shanghai and the key of success or failure, lies in the development of trade in goods in transit trade.

Central idea after announced Shanghai free trade zone, although the finance review majority concentrated in the service trade, financial industry in the development of imagination, but in fact the goods trade is the free trade area based on the foundation of the development. If Shanghai free trade zone based on the service trade and finance from the start, not in the 4 blocks away from the downtown area, and should be located in the downtown area directly.

Relative to the world most free port, free trade zone and offshore financial center, Shanghai free trade zone is based on the advantages of trade in goods.

In 2012 China overtook the us as the world trade power, only Shanghai, a city in the import and export commodities within the territory of the destination/supply of goods to import and export trade statistics that year to reach $434.1 billion, higher than Malaysia foreign trade amount ($424 billion), and Malaysia is the 18th largest exporter in the world, the 19 biggest importer.

Trade in goods in Shanghai how can more upper floor, straight back to Hong Kong? The key lies in entrepot trade. Entrepot trade is the root cause of the Hong Kong trade dependency so high. If Shanghai entrepot trade can also achieve the proportion of Hong Kong, is expected to almost double its trade dependency. Focus on developing entrepot trade, waigaoqiao free trade zone under special customs supervision system can play a role of ready-made.

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