Shanghai is the commercial and financial center of China, and ranks 13th in the 2017 edition of the Global Financial Centres Index. As of September 2013, Shanghai is also home to the largest free-trade zone in mainland China, the China (Shanghai) Pilot Free-Trade Zone.
Beijing will further relax the access restrictions for Foreign-Funded Enterprises on the six industries: Scientific and Technical Services, Internet and Information Services, Cultural and Educational Services, Financial Services, Business and Tourism Services, and Health Care. And the Producing Service and the Life Service will be as the significant industries to be promoted.
The Spokesperson of the Ministry of Commerce, Gao Feng, announced the recent key works in the business sector. From January to March, 14340 Foreign-Funded Enterprises were established in the country, which was a year-on-year increase of 124.7%. The actual use of Foreign-Fund was 227.54 billion yuan, a year-on-year increase of 0.5%.
Recently, President Xi Jinping attended the Opening Ceremony of the Boao Forum and gave an important speech. In the speech, President Xi made the most authoritative explanation on a series of major issues such as how to promote the China’s opening up, the further deepening reforms, and proposed four major measures for expanding opening up.
From the perspective of urban positioning, Beijing is more focused on political and cultural centers, but its economic strength is also very strong; Shanghai is more focused on the economic center, but it is not weak in terms of culture. For the Chinese business market, how to make the best choice between these two cities for the foreign-funded enterprises.
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