The administration committee of the China (Shanghai) Pilot Free Trade Zone will soon move from the Waigaoqiao free trade zone to the Yangshan free trade port area.

A source familiar with the FTZ told Shanghai Securities News that the move will start next month at the earliest. The entire office of the FTZ administration committee will be moved to the new location.

Shanghai Metro Line 16 will start to provide services on Dec 6, allowing commuters to directly access the adjacent 315-square-kilometer Lingang area.

The FTZ administration committee is now located in the Ninth Building in Waigaoqiao.

Ever since the official launch of the FTZ, companies have flooded in to be registered here, resulting in a sharp increase in office rentals.

The move will help make room for the registration of more companies and will also boost the development of Lingang and the consolidation of the shipping hub status of Yangshan, Lin Caiyi, chief economist of Guotai Junan Securities, told Shanghai Securities News.