Foreign investors eye bigger city role
Print Edition
FOREIGN investors remain confident of Shanghai’s economic future and they want to be more involved in the city’s initiatives including the free trade zone and building a global trading and financial hub, consuls general and chiefs of foreign companies said yesterday at a local government briefing.
It is a tradition for Shanghai to hold the briefing at the start of every year to enhance communication with foreign diplomats and investors, said Vice Mayor Zhou Bo, who headed officials from the Shanghai Commission of Commerce, Shanghai Development and Reform Commission, Shanghai Finance Bureau and Shanghai State-owned Assets Supervision and Administration Commission.
Consuls general from Bulgaria, Egypt, Australia and the local chief of the US China Business Council offered their advice on the city’s future development.
They also raised questions on the pilot FTZ, Shanghai’s role in the revival of the ancient Silk Road, foreign investment law and the upcoming implementation of the tax reform.
Business leaders from multinational companies, including Honeywell, Unilever and Eaton, also expressed their confidence in the city’s future. They viewed the current economic slowdown as temporary and said the vast domestic market will continue to create business opportunities for them while using Shanghai as their base.
Zhou welcomed the involvement of foreign companies especially in building Shanghai into a global science and technology center.
“We will beef up efforts on intellectual property protection, and make it a fair playground for all investors,” he said.
Shanghai drew US$18.1 billion in foreign direct investment last year, up 8.3 percent from a year earlier.
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