East China's Shanghai has successfully reduced stamp duty by 182 million yuan (about 25 million U.S. dollars) in the first year of its offshore trade tax preferential policy, which has proven to be a major boost for trade and investment.
The policy, initially launched in the Shanghai Free Trade Zone and the zone's Lingang New Area on April 1, 2024, aims to support the growth of offshore trade by easing the tax burden on companies engaged in this sector.
Over the past year, the policy has benefited 377 enterprises across key industries such as energy, electronics, and medical equipment.
Since its implementation, 110 new enterprises, including 40 foreign-invested companies, have begun offshore trade activities in Shanghai's free trade areas. A total of 215 foreign-invested businesses are currently operating in the region, with 57 percent of them benefiting from the stamp duty reduction. These companies account for over 65 percent of the total tax relief granted, highlighting the policy's positive impact on attracting and stabilizing foreign investment.
Earlier this month, China expanded its offshore trade stamp duty exemption policy to other free trade zones, including Jiangsu, Zhejiang, Fujian, Shandong, Guangdong, and Hainan, to further stimulate offshore trade and promote high-quality economic development nationwide.
Offshore trade stamp duty preferential policy in Shanghai delivers benefits
Offshore trade stamp duty preferential policy in Shanghai delivers benefits
China's two major power grid operators -- the State Grid Corporation of China (State Grid) and China Southern Power Grid (CSG) -- reported a surge in investment in the first quarter of 2026, underscoring efforts to strengthen infrastructure construction and support high-quality socioeconomic development in China.
The State Grid said it completed fixed-asset investment worth 129 billion yuan (about 18.77 billion U.S. dollars) in the first three months of this year, up 37 percent the corresponding period of the previous year. The spending has driven more than 250 billion yuan (36 billion U.S. dollars) of investment across the wider industrial chain.
Key projects such as the Panxi ultra-high-voltage (UHV) alternating current (AC) line and the Anhui-Hubei back-to-back direct current (DC) project have seen ground broken for their construction, while several west-to-east power transmission projects have been upgraded.
Investment in connecting renewable energy generation to the grid was reported to have exceeded 10 billion yuan (1.45 billion U.S. dollars) from January to March, a year-on-year rise of more than 50 percent.
The CSG also reported robust growth in investment in the three-month period, with fixed-asset investment reaching 38.45 billion yuan (5.58 billion U.S. dollars), up about 50 percent from a year earlier.
Among its achievements, the company completed and commissioned 80 key projects, including the 220 kV cross-sea power grid interconnection project, which was officially put into operation on March 20. The project ended years of grid isolation on the Weizhou Island in south China by linking it to the main power system of the Guangxi Zhuang Autonomous Region.
The construction of 17 other major energy projects, including one linking the power grid of the Xizang Autonomous Region in southwest China with that of Guangdong Province in south China, is advancing rapidly. These projects are expected to bolster regional industries, the maritime economy, digital collaboration and the transition to green energy.
"By accelerating major project construction, investment during the 15th Five-Year Plan period (2026-2030) is expected to approach 1 trillion yuan (145 billion U.S. dollars), driving a further 2 trillion yuan (290 billion U.S. dollars) of investment across upstream and downstream industries," said Dong Yanle, deputy general manager of the Engineering Construction Department under the China Southern Power Grid.
China ramps up power grid investment in January-March to boost growth
