By developing a model of "global orders, offshore processing, and Lin-gang settlement", Shanghai's Lin-gang Special Area is creating a vibrant and competitive offshore trade and financial ecosystem.

The Dishui Lake Financial Bay in Lin-gang Special Area, Shanghai. [Photo/lingang.gov.cn]

Operating in 89 countries across Asia, Africa, and North America, Zheshang Development Group, a bulk commodity supply chain service provider, often faces payment delays and default risks in offshore trade settlements.

Offshore trade settlements require enterprises to submit contracts, invoices, and logistics documents such as bills of lading to banks. The entire review process typically takes two to three days.

For enterprises, each additional day that funds remain tied up can increase costs and heighten exposure to price and policy shifts. To address funding bottlenecks, Lin-gang launched a comprehensive reform pilot for offshore trade financial services in June 2025. Under the new system, which combines offshore dedicated subsidiaries with document-free settlement, settlement times have been reduced from three days to just three seconds.

In June 2025, Zheshang Development Group established a branch office in Lin-gang. "We are witnessing the arrival of the 'instant payment era' in international trade," said Yang Wei, chairman of the company.

To date, Lin-gang has attracted more than 100 enterprises engaged in offshore trade. In the first three quarters of 2025, offshore trade in Lin-gang totaled $23.93 billion, a year-on-year increase of 40.1 percent. The full-year volume is projected to reach $32 billion, marking a 29.1 percent year-on-year growth.