The promotion agreement stimulates investment and trade
SHANGHAI, November 5, 2022 /PRNewswire/ — A report from chinadaily.com.cn:
Shanghai retains its status as a ideal long-term business destination.
Global investors continue to see Shanghaia city known for innovation, diversity, inclusiveness and modernity, as an ideal long-term business destination and wish to develop investment in the city due to its bright future.
DuPont, a science and technology company based in United Stateswhich has its largest research and development site outside the United States in Shanghaisaid it will continue to invest in R&D and open innovation facilities and capabilities, furthering its commitment to the city’s innovation ecosystem.
Yi-Zhangregional president of DuPont Asia Pacific, who is attending the 2022 Shanghai City Promotion Convention, said the city is not only open and inclusive, but also a breeding ground for innovation.
Over the years, DuPont has made great strides in Shanghaitaking advantage of the quality of the city and a constantly improving business environment.
“DuPont strives to become a global innovation leader and a premier multi-industry company and has always seen China as a very important market. Shanghai houses the headquarters of DuPont China,” he said. “We believe that investing in Shanghai invest in the future.”
Global professional services provider Deloitte, which has partnered with Shanghai government to publish the Shanghai Foreign Investment Guidance and White Paper for Foreign Investment Environment, also has a positive attitude towards from shanghai the future thanks to the city’s strong spirit of innovation.
Lu Yinmanaging partner of Deloitte Eastern Region, said Shanghai and Deloitte, which has been in the city for over 100 years, are witness to the development and innovation of each.
“Deloitte has witnessed many breakthroughs in innovation in Shanghaifor example, the launch of the Shanghai Stock Exchange Science and Technology Innovation Board, or the STAR Market, the establishment of the Lingang Special Zone, the construction of the Hongqiao International Opening Pole, and the efforts of the new Pudong area to develop into a leading force for China socialist modernization.
“The city has also seen Deloitte, as part of the city, championing product and service innovation and being a companion to our clients for bigger goals,” Lu said.
Lu also noted that innovation is just one of the many reasons she recommends Shanghai as an ideal business destination.
“Shanghai has the most complete industrial chains and the fewest market access limitations. It has strong core industries but also mapped into new frontiers like the metaverse. Its well-established infrastructure, strong supporting policies and professional industrial parks, inclusive and conducive business environment and high-end living environment are all key factors that businesses need,” Lu said.
“For me, Shanghai is one of the few cities in the world that can best satisfy the needs and serve the imagination of global investors.”
Deloitte has expanded its activities to 30 cities in China to meet the demand for audit, tax and advisory services.
He also tapped into emerging industries including digitalization, sustainability and low-carbon green development.
A prosperous city
Shanghaiat the tip of China reform and opening up in the new era, is committed to improving its business environment and service standards to support global investors.
Over the past 10 years, the city has achieved remarkable results in promoting quality development with total industrial output exceeding 4 trillion yuan ($547.6 billion) in 2021. This year, it has identified the metaverse, smart terminals and digitalization as well as green transformation as three new drivers for its future development.
Action plans released by the municipal government in early July included Shanghai would see the total value of its green industry exceed 500 billion yuanthe metaverse industry surpasses 350 billion yuan and the smart terminal and digitization industry 700 billion yuan in the years to come.
Shanghai released a plan January 2021 build five new cities in its suburban areas, known as Jiading, Qingpu, Songjiang, Fengxian and Nanhui, to optimize its development plan and create new engines for future growth.
These new towns each have an industrial development department. For example, Fengxian will develop its health and cosmetics sector and is poised to better integrate city life with industrial growth.
Shanghai aims to be an international innovation hub, and has increased its capital and put in place supporting policies to strengthen the R&D sector.
Between 2012 and 2021, from shanghai Investments in R&D went from 67.95 billion yuan at 181.98 billion yuanand the ratio of R&D expenditure to gross domestic product rose from 3.31% to 4.21% over the same period.
Shanghai also strives to improve the quality of urban life in areas such as health and education. The average life expectancy of the population of Shanghai is 84.11 years, an increase of 1.7 years since 2012, said Shen WeiParty Secretary of the Education and Public Health Working Committee of the Shanghai Municipal CPC Committee.
from shanghai long-term commitment has become the most powerful engine for sustaining development in times of complex challenges and dynamic change.
During the first three quarters of the year, Shanghai certified 46 regional headquarters established by multinational corporations and 17 research and development centers funded by foreign capital.
At the end of September, the city hosted the regional headquarters of 877 multinational companies, as well as 523 foreign-funded R&D centers.
Recovery in progress
Shanghai experienced an economic downturn in the first half of 2022 due to the COVID-19 pandemic and global market uncertainties. The city recorded better than expected economic results in the first nine months of 2022.
The city government said from shanghai The economy is on track for a V-shaped recovery in its leading economic indicators in the third quarter, reflecting its strong resilience and vitality.
During the first nine months, from shanghai GDP was 3.1 trillion yuan, down 1.4% year-on-year. Although this figure is down from the same period a year ago, this figure represents an improvement of 4.3 percentage points compared to the year-over-year percentage change of the first six months .
Its enterprises industrial added value to the annual turnover of 20 million yuan or more increased by 14.9% year-on-year.
The city has also registered signs of recovery in areas such as consumption.
The new energy vehicle industry recorded a 65.4% year-on-year increase in the third quarter.
From January to September, the new generation of the information technology industry and the biomedicine industry recorded annual growth of 13.8% and 5.8%, respectively.
Foreign trade has maintained a double-digit growth rate for three consecutive months since July. The total volume of foreign trade increased by 16.6% year on year.
In order to better manage market uncertainties and support business recovery, especially in hard-hit sectors, Shanghai puts in place more policies to boost the business environment and unleash its market potential. from shanghai the government announced the September 28 some 22 new measures, in addition to the 50 measures published at the end of May and the 21 measures in March, to support the city’s economic recovery.
Companies in Shanghai have seen signs of recovery in recent months. CBRE, a global real estate services and investment firm, said from shanghai the economy has been steadily revived, new momentum has been built up, and the open level has further improved.
“Positive trends can be seen in the commercial real estate sector where our company is located. Our latest data shows that the demand for office space in Shanghai in the third quarter increased by more than 270% quarter on quarter and was the largest in China“, said the company.
Benefiting from from shanghai strong service system and investment environment for foreign-funded enterprises, CBRE’s professional real estate advisory services have maintained high-quality development. CBRE established its China head office at Shanghai in 2018 for the openness, innovation and inclusive environment of the city.
Promote Shanghai at the CIIE
The 2022 Shanghai City Promotion Convention, an annual investment event during the China International Import Expo, opens on Sunday to showcase the city’s charms.
The 2022 session includes welcome speeches, keynote speeches, policy release and a new project signing ceremony. Government officials from Shanghai, global business leaders, representatives of international organizations and research institutes are attending the event. Prior to the convention, promotional activities were organized around the world in the cities of Los AngelesUnited States; Frankfurt, Germany; Osaka, Japan; and Londonthe UK.
“The Shanghai City Promotion Convention, held at the same time with the CIIE for three consecutive years, fully demonstrates from shanghai confidence and determination to open up to the outside world,” said Zhang of DuPont.
In recent years, the annual CIIE has played a vital role in attracting foreign investors to Shanghai. The show not only provided a platform for global exhibitors to sell their products, but also allowed companies to look into the Chinese market and observe the latest market trends.
“The annual CIIE is an international event that brings together the world’s most successful and dynamic business investors to China and Shanghai. This is an important step taken by China promote a new round of high-level opening up and economic globalization,” Zhu Yideputy director of Shanghai Commerce Commission, said at a promotional event on October 20.
Italian health equipment developer DiaSorin has decided to build a production plant in Baoshan district in Shanghai after participating in the 2020 CIIE. Its new plant will go into operation next year.
The company also plans to move its R&D center to Shanghai in 2023 to better serve the local market. Looking forward, Shanghai amplify the benefits of the CIIE to attract more quality foreign investment projects to the region.