Reports that foreign companies are using the Shanghai Waigaoqiao Bonded Free Trade Zone formed by the Shanghai government in 1990 to get around web regulations in China. Advantages that Waigaoqiao offers to foreign-invested enterprises; Information on Waigaoqiao's tax incentives; Benefits received by export processing companies in Waigaoqiao. INSET: Wai Gao Qiao (USA) Inc. opens in New York.