Amid China's push for high-quality development and deeper integration into global value chains, Shanghai, Tianjin, and Hangzhou have recently unveiled major policies targeting cross-border trade and leasing innovation. By combining institutional reform with financial empowerment, these measures aim to accelerate the integration of Chinese industry into international supply and capital networks.

Shanghai Pudong has released its Three-Year Action Plan for Commodity Trade Transformation (2026–2028). The city targets a commodity trade volume exceeding RMB 4 trillion by 2028, with over 80 to 100 major trading enterprises, including three to five leading firms exceeding RMB 200 billion in scale.

Key priorities include:

• Metals: Strengthening copper, aluminum, and steel trade, expanding into strategic metals such as magnesium, tungsten, and cobalt, and promoting green smelting.

• Energy and Agriculture: Attracting oil, chemical, and green-energy companies, developing trade in green hydrogen and ammonia, and exploring carbon trading.

• Global Supply Chains: Supporting enterprises across resource extraction, cross-border processing, and global distribution, while deepening Belt and Road cooperation.

Leveraging the Shanghai Futures Exchange, Lingang New Area, and Yangshan Port, Pudong is building a “futures-spot integrated, onshore-offshore connected, RMB-denominated” commodity ecosystem to enhance Shanghai pricing influence internationally.

Tianjin has issued the Implementation Plan for a World-Class Leasing Innovation Demonstration Zone (2026–2030), featuring 28 measures aimed at expanding leasing assets to RMB 2.8 trillion by 2030. Centered on Dongjiang Free Trade Zone, the city targets three global hubs: aircraft leasing, ship leasing, and offshore export leasing.

Notable policy innovations include:

• Cross-border financing facilitation, allowing foreign-currency loans and rental payments directly in foreign currencies.

• Expansion of leasable assets to include computing equipment, low-altitude aircraft, satellites, and renewable-energy equipment.

• Legal and talent support, including China’s first free-trade zone leasing court and incentives for core professionals.

These measures strengthen Tianjin’s leadership in the Asia-Pacific leasing market and provide financial support for high-end manufacturing “going global.”

Hangzhou's High-Quality Commodity Trade Development Policy introduces 10 targeted measures with up to RMB 130 million annual fiscal support. Key initiatives include:

• Incentives for leading trading firms and futures risk management subsidiaries.

• Use of offshore trade stamp tax benefits and dynamic regulatory models.

• Integrated domestic-foreign currency accounts and electronic document verification.

• Innovation in “futures + insurance + guarantee” financing, supporting overseas listings.

• Legal support for overseas operations and trade defense actions.

• Specialized talent evaluation channels for commodity trade professionals.

Hangzhou aims to create a secure, efficient, and open commodity supply hub driven by fiscal incentives, financial innovation, talent cultivation, and customs facilitation.