Jing鈥檃n picked to test lessons from FTZ
Print Edition
SHANGHAI has chosen Jing’an District to launch a trial offering streamlined services to register foreign investment in downtown areas as it applies the lessons in the city’s free trade zone, the authorities said yesterday.
Under the trial, foreign investors can apply for the Jing’an government consent to register their investment in four days after presenting five documents, down from 11 days.
The district has also decided to adopt a negative list used in the China (Shanghai) Pilot Free Trade Zone by simplifying the process for investment in areas not on the list. Previously investment applications were examined on a case-by-case basis.
“It can save a lot of work for the government, and enable us to spend more efforts on better serving investors,” said Pan Min, head of the district.
Gu Jun, vice chairman of the Shanghai Commission of Commerce, said the trial would let the city quickly reform foreign investment management.
“If it works well in Jing’an, we will expand the trial to more areas to make it easier for foreign investors,” Gu said
Shanghai’s foreign direct investment increased 7.3 percent from a year earlier to US$1.62 billion in May.
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