Shanghai Innovative Approaches in Attracting Foreign Investment

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In 2012, taking the advantage of comprehensive reform, Pudong New District worked together with Shanghai Commission of Commerce and Shanghai Administration of Industry and Commerce and Launched “Temporary Regulation on the Establishment of Commercial Factoring Companies in Pudong New District of Shanghai” in December 2012 according to the “Notice on Pilot Test of Commercial Factoring” and the “Reply of Pilot Test Plan of Commercial Factoring”. The pilot opening of commercial factoring is instrumental to structure of domestic and foreign investment, connection between domestic and foreign trade, and transformation and upgrade of economy in the district and contributes to Shanghai’s “four center” endeavors.

Shanghai Innovative Approaches in Attracting Foreign Investment - Increase regional responsible competitiveness
Up to 2012,312 companies have passed the social responsibility assessment and one third of them are foreign-invested companies. Pudong has compiled “Responsible competitiveness: the Fourth Trend-Innovation of Social Responsibility of Companies in Pudong New District”. Pudong Commission of Commerce and WTO Guide of Ministry of Commerce jointly launched “Responsible Competitiveness Index”, the first of its kind in China.

Shanghai Innovative Approaches in Attracting Foreign Investment - Optimize environment for foreign investment
Pudong New District has strengthened supports to corporate headquarters in 2012. To further improve business environment for Headquarter Economy, and close the gap with international cities like Singapore and Hong Kong in terms of global resources allocation capability, service functions, and business environment, effectively address difficulties and hurdles in RHQ operation, and create a more accommodating environment, Pudong New District has been the first one to establish Headquarter Economy Shared Service Center, and promote integrated service system with government guidance and participation of all stakeholders.

To implement the “Opinion on Promoting the Development of Multinational’s Regional Headquarters” jointly issued by Pudong New District, Customs, Inspection & Quarantine, Foreign Exchange, and Entry-Exist Authorities, Shanghai Customs, Shanghai Entry-Exit Inspection & Quarantine Administration, Shanghai Administration of Industry and Commerce Pudong Branch, Shanghai International Traveler’s Health Center and Entry-Exit Service Office of Pudong Public Security Bureau jointly enabled 14 detailed policies.

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