(Yicai) April 18 -- A pilot area of the Shanghai Eastern Hub International Business Cooperation Zone, which allows not only the free flow of goods, but also the free flow of people, will be fully enclosed and up and running by the end of this year, according to information released today by the zone’s management office.

This cooperation zone, which is located next to Pudong International Airport, is the first of its kind in China, said Zhao Yugang, deputy director of the management office. It is a new type of special economic area and one of the most internationally open zones in the country.

“The zone will not only facilitate the free flow of goods, similar to bonded zones, it will also make it easy for people to come and go. It is not just offering ‘first-tier liberalization’ of goods but also ‘first-tier liberalization’ of individuals,” Zhao said.

Foreign nationals will be able to enter the zone, which spans 0.88 square kilometers, directly from Pudong International Airport without requiring a Chinese visa and can stay there for up to 30 days. There will be a 10-minute shuttle bus service that will take international travellers arriving at Pudong Airport’s new third terminal to the zone. The handling of goods will be according to bonded area policies.

The zone will have world-class facilities for exhibitions, conferences and training, Zhao said. It will cater to large-scale corporate events as well as offer specialized, small-scale and customized services. It will focus on core functions such as international business exchange, exhibitions and conventions, as well as training to build a globalized service ecosystem.

“Shanghai is home to more than 1,000 regional headquarters of multinational companies. These firms can host their annual meetings, client conferences and board meetings within the zone,” Zhao said.

The zone will also provide office space for professional service providers such as accounting, finance, law, consulting and testing firms. There will also be mobile offices, temporary offices and co-working spaces. The zone will feature high-standard amenities for businessmen and their companions including dining, leisure, sports and medical facilities.

The entire zone will be gradually enclosed in phases and should be fully enclosed by 2028, according to the development plans. By then, all the key infrastructure for business communication, international exhibitions, and training will be operational.

Editor: Kim Taylor