Shanghai pushes for more investment with European business

The Shanghai Foreign Investment Development Board hosted a conference with several European chambers of commerce and investment promotion agencies in East China's Shanghai on June 19 – to discuss ways to improve the city's business ecosystem for international investors.

The event was part of the Shanghai Investment Promotion Partnership, or SIPP mechanism, which fosters collaboration between government agencies and overseas business associations in Shanghai.

Nine European business associations attended and shared their views and suggestions on topics ranging from economic and trade forums, to business confidence surveys, high-level delegation visits, cross-border workforce mobility and boosting consumer spending.

Zhu Yi, deputy director of the Shanghai Municipal Commission of Commerce, expressed her gratitude for the long-term support from the European business community.

She briefed them on the latest trade and investment conditions for foreign-invested enterprises in the metropolis, especially those from Europe.

Zhu said that Shanghai was committed to opening up more to the outside world and called on the businesses to seize new opportunities in environmental, social and governance, or ESG and the promotion of consumption.

She also said that the local municipal and district government agencies would communicate more regularly with the overseas business associations and set up a service mechanism to address their needs promptly and boost their levels of satisfaction.

Moreover, she urged the participants to continue to promote economic, trade and investment ties between Shanghai and their countries.