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Preferential CIT in Shanghai Lingang New Area

China (Shanghai) Pilot Free Trade Zone, the first one in China established in Shanghai Municipality in 2013, was extended in August 2019 by the State Council to include Lingang New Area. According to the “General Plan for Lingang New Area of China (Shanghai) Pilot Free Trade Zone” (Guo Fa [2015] No. 15), the primary purpose is to create an international economic zone with a competitive tax system and support for foreign investments.