The development of foreign investment in Shanghai will enter a new phase

First, there are fewer restrictions on market access. In particular, the opening up of the service sector will help introduce new technologies, new business formats, new business models and new products so as to give full play to the role of foreign investment in the development of the real economy.

Second, with the deepening of the reform. We will implement the system of pre-establishment national treatment plus a negative list across the board while implement the national treatment after admission and treat all enterprises registered in our country equally.

Third, support for innovation has been upgraded. System innovation in the pilot free trade zones pays more attention to giving greater autonomy to these zones. And more efforts have been made to explore the establishment of a free trade port so as to further demonstrate the piloting effect of foreign investment-related work in deepening the reform in an all-round way and opening up.

“Many aspects can be replicated. Different regions can compete with each other with more favorable policies, with more and better land. However, it takes a very high price to replicate business environment. It is not easy to replicate,” Yang Chao, deputy director of the Shanghai Municipal Commission of Commerce said. He introduce that there are many such examples that companies moved out from Shanghai for lower-cost land and manpower, but later found that it is difficult to recruit high-caliber people. Even if they recruited the people they need, it is difficult to retain them because of the lack of good schools, good hospitals and good business districts.

Shanghai has already done a great deal of work in urban construction and livable areas. Take the PM2.5 indicator for example. Shanghai has seen remarkable improvement over last year. Despite skyrocketing prices of land in Shanghai’s downtown area, the government built many green spaces rather than tall buildings. Shanghai is determined to be built into a city of innovation, a city of humanities, and a city of green.

Yang expressed his hope that the Shanghai Investment Promotion Organization (SIPP) will play a bigger role in promoting two-way investment in Shanghai. “First is policy-orientated and deliver policy information timely; second is demand-orientated and improve the effectiveness of investment promotion work; third is service-oriented and effectively serve the member institutions. The SIPP will present to the world a good story of China, of Shanghai, and let more foreign investors to understand Shanghai and to invest in Shanghai.”

Source: China.org.cn

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