Top Vietnamese legislator visits China’s Shanghai Free Trade Zone

The Vietnamese NA leader was briefed on the development and outstanding achievements of the SHFTZ, special policies for the zone, as well as the practical experience obtained through applying controlled pilot mechanisms.

Leaders of Shanghai and the SHFTZ highlighted that the top Vietnamese legislator’s visit marks an important milestone in the co-operation between the Chinese locality and the nation.

According to the head of the SHFTZ, the zone, which was first established in September, 2013, is becoming the first pilot free trade one of China to realize the country’s policy of opening, multilateralism, and diversification. So far, China has set up a total of 22 such zones.

After more than 10 years of operation, it has become an outstanding economic reform model as a means of contributing to expanding the economic scale of Shanghai and attracting foreign investment.

As of the end of 2022, a total of 84,000 new businesses had been established at the SHFTZ.
NA Chairman Hue expressed his hopes that the municipal People’s Congress and administration will continue to share experience with Vietnamese NA agencies in building a mechanism framework for the operations of pilot free trade zones.

Shanghai and SHFTZ leaders affirmed that based on the foundation of the Vietnam-China joint statement on the building of a Vietnam-China Community of a Shared Future with strategic significance, they will bolster economic and trade co-operation with the nation, whilst welcoming and standing ready to share experience with Vietnamese sectors and localities for common development.