The pilot area of the Shanghai Eastern Hub International Business Cooperation Zone is ready for operation after passing a joint acceptance inspection on Friday.

The State Council approved the overall plan of building the Shanghai Eastern Hub International Business Cooperation Zone in February last year. The plan clearly defined the policy measures and business service functions for facilitating cross-border movement of personnel in specific enclosed areas.

As the first of its kind in China, the International Business Cooperation Zone, covering a planned area of 0.88 square kilometers, integrates the policies of comprehensive bonded zones, customs supervision areas, and restricted port areas.

According to the comprehensive development plan, the zone aims to achieve full closed-loop management by 2028 when key functional infrastructure will be completed to enable the zone to host business exchanges, international exhibitions, and international training programs.

By 2030, the zone is scheduled to be fully built to achieve the functional goals of facilitating regional cross-border exchanges, active international business activities, and gathering innovative resources, as an international business hub with leading professional service capabilities and complete supporting facilities.