SHANGHAI FREE TRADE ZONE : beaucoup d'opportunités pour les entreprises françaises et étrangères

VEBER ASSOCIES Avocats développe une activité tournée vers l'international et plus particulièrement vers la CHINE. Bientôt implanté à SHANGHAI par le biais d'un bureau de représentation, le cabinet conseille d'ores-et-déjà des entreprises française et chinoises en partenariat avec des correspondants chinois et étrangers basés en Chine. Des projets de grande envergure sont en cours. Ils sont notamment relatifs à la construction, aux maisons de retraite et l'aide à la personne et au sport. C'est dans cette perspective que VEBER ASSOCIES Avocats considère que SHANGHAI FREE TRADE ZONE qui rencontre actuellement un succès énorme, peut représenter un atout considérable pour les entreprises ou les projets français., Le 29 septembre 2013, la CHINE a instauré à SHANGHAI une zone de libre-échange de 29 km2 dans laquelle les étrangers auront plus de facilité à créer des entreprises, les investisseurs pourront déplacer les capitaux à l'intérieur et à l'extérieur du pays avec un minimum de restrictions et ce sont les banques et non le gouvernement qui fixeront les taux d'intérêt pour les dépôts. Une restructuration du système financier, sûrement, et s'il s'agit d'une réforme par paliers dont les contours ne sont pas encore complètement fixés, il convient d'être extrêmement vigilant pour ne pas rater les opportunités qui pourraient néanmoins rapidement se présenter., SHANGHAI FREE TRADE ZONE Made by Huang Kaijun's group - DACHENG LAW OFFICES What is Free Trade Zone (FTZ) Being outside the customs territory: August 2013, China's State Council has approved the establishment of a pilot free trade zone in Shanghai. The revised International Convention on the simplification and harmonization of customs procedures (Kyoto Convention) defines “free trade zones” as part of a contracting party were any goods introduced are regarded, in relation to import duties and taxes, as being outside the customs territory. It emphasizes free tradings outside the customs territory. The focus is on offering more convenience and efficiency for local trading companies with improved policies on foreign investment, international trading settlement and cross-border transactions. Covering 28.78 square kilometers, the new zone will be built on the basis of existing bonded zones -- Waigaoqiao Free Trade Zone, Waigaoqiao Free Trade Logistics Park, Yangshan Free Trade Port Area and Pudong Airport Comprehensive Free Shanghai Free Trade Zone Made by Huang Kaijun’s group, Beijing Dacheng Law Offices, LLP (Shanghai) September 20, 2013 Trade Zone in Shanghai. The project, mapped out at the start of this year, is the first of its kind in China and is also one of Shanghai's major tasks for 2013 and it will be a breakthrough for Shanghai to achieve a new round of rapid economic development. Financial Liberalization The pilot plan includes four key steps. It will create tax-friendly facilities for trade and investment within the free-trade zone and promote China’s interest-rate liberalization plus, eventually, renminbi convertibility. It will also encourage financial product innovations and promote the development of offshore businesses. Renminbi convertibility. Shanghai FTA is expected in the region of RMB capital account convertibility for pilot. Firms operating in the free trade zone would have access to full yuan convertibility and enjoy zero restrictions on bank interest rates. Financial business liberalization. The project will include shortcuts for foreign banks to set up subsidiary or joint venture operations and special permission for foreign commodities exchanges to own warehouses in the free-trade zone. Offshore financial business. The city also plans to test selected offshore businesses within the zone, including offshore banking activities and cross-border financing denominated in foreign currencies. Renminbi pricing can be done by financial institutions based on market needs. Capital investment. Shanghai is expected to allow companies to convert other currencies freely with the renminbi within the zone as well as buying overseas assets and equities or raising funding abroad. In addition, foreign investment and funding activities for both domestic and international companies will be promoted there.