New body to boost 2-way city investment
By Wang Yanlin |
May 26, 2012, Saturday
|
Print Edition
Print Edition
SHANGHAI yesterday established a new mechanism to promote two-way investment by strengthening cooperation and communication among local and overseas investment-facilitating institutions.
The Shanghai Investment Promotion Partnership, jointly launched by the Shanghai Foreign Investment Development Board and 15 overseas investment-facilitating institutions based in Shanghai, aims to push the city's participation in global investment activities to a broader and higher level.
"It is the first time that the city has set up a platform to forge closer relationship between these institutions," said Chen Xianjin, vice chairman of the Shanghai Commission of Commerce. "We expect the mechanism will play an active role in accelerating growth in both inbound and outbound investment in Shanghai."
Overseas institutions involved in the partnership include the United Nations Industrial Development Organization's Shanghai Investment Promotion Center, the American Chamber of Commerce in Shanghai, the Japan External Trade Organization, the Korea Trade-Investment Promotion Agency, a unit of the German Industry and Commerce, the Canadian Chamber of Commerce and the Australian Trade Commission.
The partnership, which has attracted 99 members from 31 countries and regions, will invite members to attend conferences, participate in training programs and take part in fairs to facilitate investment activities.
In the first four months of this year, contracted foreign direct investment in Shanghai rose 17.2 percent from a year earlier to US$7.34 billion, bucking the national trend of falling foreign investment.
The Shanghai Investment Promotion Partnership, jointly launched by the Shanghai Foreign Investment Development Board and 15 overseas investment-facilitating institutions based in Shanghai, aims to push the city's participation in global investment activities to a broader and higher level.
"It is the first time that the city has set up a platform to forge closer relationship between these institutions," said Chen Xianjin, vice chairman of the Shanghai Commission of Commerce. "We expect the mechanism will play an active role in accelerating growth in both inbound and outbound investment in Shanghai."
Overseas institutions involved in the partnership include the United Nations Industrial Development Organization's Shanghai Investment Promotion Center, the American Chamber of Commerce in Shanghai, the Japan External Trade Organization, the Korea Trade-Investment Promotion Agency, a unit of the German Industry and Commerce, the Canadian Chamber of Commerce and the Australian Trade Commission.
The partnership, which has attracted 99 members from 31 countries and regions, will invite members to attend conferences, participate in training programs and take part in fairs to facilitate investment activities.
In the first four months of this year, contracted foreign direct investment in Shanghai rose 17.2 percent from a year earlier to US$7.34 billion, bucking the national trend of falling foreign investment.
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