The city promotion convention is committed to improving the living environment and business for investors
As the fourth China International Import Expo (CIIE) welcomes guests from all over the world to Shanghai, the local government will present the opening of the city and showcase the changes and progress of its business environment.
Under the theme “Embrace the CIIE, share a future”, the 2021 Shanghai Promotion Convention is expected to be held today at the Shanghai Center.
The event will be virtual and offline in the presence of representatives of multinational companies, public and private, professional service providers, foreign consulates in Shanghai, international organizations and investment promotion agencies.
Hard power makes a city mighty, while soft power makes a city great. A highlight of this year’s convention is Shanghai’s ambition and efforts to strengthen its urban soft power en route to becoming a socialist metropolis of global influence by 2035, authorities say.
City leaders will once again reaffirm Shanghai’s confidence and determination to create a better living and business environment for global investors, the high level of reform and openness in the Pudong New Area and the implementation of favorable policies and measures in key areas such as Hongqiao Business District and Lingang Special Zone Pilot Free Trade Zone in China (Shanghai).
The conference also invited international organizations and institutions to express their expectations for the future development of Shanghai through recorded video messages.
The Investment and Enterprise Division of the United Nations Conference on Trade and Development, for example, will share ideas on global investment trends and the economic attractiveness of China, Shanghai in particular.
Foreigners working and living in Shanghai are also welcome to share their stories of the city.
The economic, innovative and cultural park linked to abroad DPARK, founded by Antonio Duarte, a renowned French industrialist who received the Shanghai Magnolia Award, highly values the city’s efforts in terms of foreign investment.
“China’s business environment, especially in Shanghai, is becoming more and more open and inclusive, and foreign capital is being handled nationally,” said a park official.
Government departments are becoming more efficient and transparent, and the processing time for business registration has been significantly reduced, he added.
Accenture, a global professional services company which is headquartered in China in Shanghai, said it has expanded its presence at a faster pace over the past two years.
Its team in China now has around 19,000 employees.
Global toy giant Lego Group, which has participated in CIIE four times, said it will cover more than 80 Chinese cities with 300 retail stores by the end of this year.
Confidence is bolstered by China’s efforts to improve its business environment and strengthen intellectual property rights protection, according to Clothilde Yang, senior director of government and public affairs, Lego Toy (Shanghai) Co Ltd.
Thanks to its strong economic resilience and the facilitation of the CIIE, Shanghai remains a top investment choice for foreign companies, according to local authorities.
With the strong ripple effects of the CIIE, the city has enjoyed a good momentum in the use of foreign capital since the beginning of this year, said Zhu Yi, vice president of the Shanghai Trade Commission.
From January to September, a total of 5,136 foreign-invested enterprises were newly created, up 27.1% from the previous year.
Foreign capital actually used was $ 17.84 billion, up 15% year on year and 22% compared to the same period in 2019.
A total of 47 regional headquarters of foreign-funded multinational companies and 20 foreign-funded research and development (R&D) centers were established in Shanghai in the first nine months, bringing the total number to 818 and 501, according to Zhu.
Compiled by the Shanghai Foreign Investment Development Council, a new investment map and a navigation of the city’s foreign investment landscape have recently been released.
Foreign investors can get an overview of the city’s latest investment policies for eight key industrial sectors, including financial services, new consumption and technological innovation, using the map, said Xue Feng, chairman. of the foreign investment council.
First launched this year, the Navigation of Shanghai’s Foreign Investment Landscape focuses on the city’s foreign investment regulations and displays comprehensive information on foreign investment promotion, investment protection, investment management. and services in cartographic language.
To create a healthier business environment, Shanghai approved foreign investment regulations last year, which promise greater openness, improved reporting mechanism procedures, and a one-stop-shop service system for large projects funded by abroad.
In addition to showing for the first time the layout of multinational companies’ headquarters and their R&D centers in Shanghai, the navigation also displays the city’s support services for foreign investment as well as investment hot spots and news. investment opportunities during the “14th five-year plan”. period (2021-2025), added Xue.
“What foreigners appreciate the most is our unique transportation system,” said Li Li, director of the Minhang District Investment Promotion Center. “You know, business people travel a lot.”
As the city’s gateway to the Yangtze River Delta, Minhang District looks like a “golden key” on the map of Shanghai.
With its developed transportation network, strong industrial facilities, rich culture and a pool of technological talent, the district has attracted more than 39,000 businesses in the past year, which has contributed around $ 1.48 billion. yuan ($ 230 million) of its taxation, Li noted in an interview with Shanghai Daily.
As a platform for companies around the world to introduce themselves and interact with each other, the CIIE has proven to be a tremendous enabler for foreign investment.
Despite the COVID-19 pandemic, the third international import fair was held as planned, with cumulative sales of $ 72.62 billion (calculated over one year), an increase of 2.1% compared to the previous session.
Of the Fortune 500 companies attending last year’s show, more than 70 percent joined CIIE more than once, and a group of exhibitors signed up on-site to invest in Shanghai and China for the event.
The return rate is expected to be over 80% this year, according to the organizer.
The first and second CIIE are said to have ended with planned deals worth more than $ 57.8 billion and $ 71.1 billion.