Shanghai FTZ opens new area

SHANGHAI, Aug. 20 (Xinhua) -- The new Lingang area of the China (Shanghai) Pilot Free Trade Zone was officially launched on Tuesday.

The new section will match the standard of the most competitive free trade zones worldwide and will facilitate overseas investment and capital flows and realize the free flow of goods, according to the area's development plan.

The area will be built into a special economic function zone with global influence and competitiveness.