IT, ITeS cos moving to SEZs

When the Shanghai authorities wanted to concentrate the financial district in a non-traditional end of the city, it used tax incentives as a gentle prod. Financial organisations were told they would be offered tax incentives for working out of Pudong. This pushed large global financial groups such as Citibank and HSBC to shift operations into the erstwhile dock area. Today, Pudong is a thriving commercial area with state-of-the-art offices of banks and financial institutions. Not that it spelt the end of the road for Puxi, the accepted commercial centre in the heart of the town.

IT, ITeS cos moving to SEZs- Property-The Sunday ET-Features-The Economic Times