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Shanghai to give stronger support to foreign enterprises

Updated: 2017-03-02

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Shanghai to give stronger support to foreign enterprises

File photo of Ying Yong, mayor of Shanghai. [Photo/VCG]

Shanghai will strengthen its support and improve its services for foreign enterprises, said Ying Yong, mayor of Shanghai, at a meeting with more than 10 leaders of foreign-funded companies on Feb 27.

The meeting is part of the mayor's Pudong visit to investigate the current development of local foreign enterprises and to listen to their thoughts and advice on Shanghai's opening up.

The attendees shared the latest developments in their companies and advised on subjects such as upgrading the investment environment, and talent attraction.

Ying mentioned the important role that foreign enterprises have played in the city's development and economic growth over the past three decades.

Foreign enterprises have become a growth engine for Shanghai's economy and the major force to boost the city's scientific innovation, said Ying.

The mayor pointed out that the city intends to further its opening up policy and to create a more convenient investment and trade environment. Thus, he hoped that more foreign companies would grasp the opportunities to participate in the development of Shanghai.

The city will also work on creating a legal, international and convenient environment to do business, said Ying.

Foreign-funded R&D centers are allowed to join in the construction of turning Shanghai into a scientific and technological center. Simplified administrative approval systems have been launched to lower company costs. Talent attraction policies keep improving to lure more top minds to work in Shanghai. Related regulations will be carried out to better protect the legitimate rights and interests of foreign enterprises and investors in Shanghai.

In addition to the meeting, Ying also visited the Asia-Pacific headquarters of US-based Honeywell International and Swiss-based drug maker Roche, to gain a better understanding of local foreign-funded enterprises.