Shanghai International Reinsurance Trading Center (SIRTC) was officially launched on October 26th in Lingang New Area of Shanghai Pilot Free Trade Zone (PFTZ). The unveiling of the international reinsurance business platform, the release of four supporting rules, and the signing of contracts by 15 resident organizations marked a breakthrough in the construction of the institutional system of the international reinsurance functional zone.

　　The trading center focuses on cross-border reinsurance business, covering registration management, reinsurance transactions, international ceded premium statistics, differentiated solvency factors, etc., helping to create a window for opening up to the outside world with lower transaction risks, higher information transparency, and more centralized transaction elements.

　　On November 5, 2018, President Xi Jinping announced in his keynote speech at the opening ceremony of the first China International Import Expo that "new zones in China's Shanghai Pilot Free Trade Zone will be added."

　　Since the listing on August 20, 2019, the new area in Lingang has promoted a series of opening-up initiatives: the implementation of the "main zoning" system represented by the integrated supervision of "one division and two locations" for the manufacturing of Shangfei, the country's first wholly foreign-owned vehicle manufacturing project, and the launch of the Tesla Shanghai Superfactory, which will be the first in China. --The first wholly foreign-owned vehicle manufacturing project in China, the Tesla Shanghai Super Factory was put into operation, the first foreign-controlled joint venture financial management company in China, HSBC Wealth Management, and the first multinational financial group wholly-owned financial technology company, HSBC Goldcorp, were set up. HSBC Goldcorp; the first in China to allow well-known foreign arbitration institutions to set up business institutions and carry out foreign-related arbitration business in the new area of Lingang. ...... In 2020, Lingang's actual foreign investment will be US$520 million, and in 2022, it will grow to US$2.04 billion.

　　In order to enhance the ability of global factor resource allocation, Lingang New Area carries out the pilot reform of foreign exchange management for high-level opening up of cross-border trade and investment. Since the listing, the cumulative volume of cross-border RMB settlement has exceeded 2 trillion yuan, and the volume of cross-border foreign currency settlement has exceeded 40 billion U.S. dollars. The first LNG (liquefied natural gas) cross-border RMB settlement transaction between China and a member country of the Cooperation Council for the Arab States of the Gulf (CCOAG) has been finalized, and a new international trade public service platform - Cross Border Link has been constructed. The construction of "China Yangshan Port" international ship registration port, the first in China in terms of the number of ships registered for international routes; in 2022, the container throughput of Yangshan Port will be 23.92 million TEU, accounting for 50.6% of the Shanghai port. Completing the first cross-border data flow security assessment in the field of intelligent networked vehicles in China. Construct a new data infrastructure system of international advanced level, open a dedicated channel for international data transmission, and build a high-energy-level arithmetic center. It has built five international submarine fiber optic cables and two submarine fiber optic cable landing stations, and is preparing for the construction of an international submarine fiber optic cable directly connecting Shanghai to Singapore, so as to attract more data elements to circulate to China.

　　Lingang New Area continuously enhances the innovation source and international innovation synergistic ability. the 6th World Top Scientists Forum was held at the permanent site of the World Top Scientists Forum in Shanghai Lingang New Area from November 6 to 8, with the participation of more than 300 scientists from 25 countries and regions. In order to retain more talents, Lingang implement the maximum 5-year work-based residence permit for foreign talents, and give one-time work permits for more than 2 years to the shortage of urgently needed talents. The restrictions on the practice of high-end foreign talents in modern service industry have been relaxed, and a positive list of filed practice and qualification examinations has been formed.

　　In order to create cutting-edge industrial clusters with international market competitiveness, the new Lingang area gathers chain main enterprises and attracts more than 200 supporting enterprises to settle in the area, and the output value of intelligent new energy automobile in 2022 will exceed RMB 260 billion. At the same time, Lingang new area to build Dishui Lake AI innovation harbor, settled 150 artificial intelligence enterprises, AI research and development personnel more than 5,000 people. Lingang builds a biomedical specialty industrial park, and lays out and builds a high-capacity research hospital. The construction of independently controllable, safe and reliable domestic large aircraft industry cluster, independently developed the first domestic commercial aircraft engine verification machine machine first ignition success, domestic large aircraft C919 has started commercial passenger flights.October 27, Lingang International Data Economy Industrial Park was officially inaugurated. According to the plan, the international data economy industrial park will be built into a high-level international data cooperation bridgehead, high-standard data cross-border system innovation pioneer zone, high-quality international data industry agglomeration and high-capacity data circulation infrastructure new hub.

　　At present, Lingang New Area has initially established a relatively mature system of investment and trade liberalization and facilitation system, created a number of functional platforms with higher degree of openness, and initially built an open industrial system with competitiveness in the international market. Lingang has optimized the level of government services and centralized the exercise of 1,215 administrative matters at the urban and municipal levels. With the establishment of registration confirmation system, the processing time for enterprise registration has been shortened by 75%; the "joint handling of certificates and licenses" has been carried out to realize one-time processing of enterprise entry and approval.

　　Since the listing, the economic strength and total economic volume of the new Lingang area have been significantly improved, and 102 breakthrough innovation cases have been formed; nearly 500 projects have been signed in the frontier science and technology industry, involving a total investment of more than 600 billion yuan.2023 From January to June, the total output value of Lingang-regulated industry increased by 52.6% year-on-year, and the investment in fixed assets increased by 57.2% year-on-year, and the tax revenue increased by 47.5% year-on-year, and the tax revenue increased by 47.5% year-on-year. Tax revenue increased by 47.5% year-on-year.