Shanghai's Lingang Area targets fast-growing service industry

Shanghai's Lingang Area, a newly launched section of the Shanghai free trade zone, is seeking to further promote high-quality development of the service sector, with a planned average annual growth of the value added of the tertiary industry exceeding 20 percent by 2025.

The area will focus on cross-border finance, new international trade, digital economy and other modern service industries, continuously improving the allocation of global resources.

Lingang plans to attract at least 100 corporate headquarters recognized by its management bureau by 2025, and to build an international financial hub with more than 500 licensed financial institutions of all kinds.

The area also expects its total volume of imports and exports of shipping goods to exceed 150 billion yuan (about $21.2 billion) by 2025, and its container throughput to reach 24 million TEUs.