Shanghai's actual use of foreign capital in January-February this year was USD4.961 billion, a year-on-year increase of 18%. The actual use of foreign capital in the tertiary industry was USD4.761 billion, an increase of 15.9%, accounting for 96% of the total actual use of foreign capital in the city. In terms of industries, the top three are information transmission and information technology services, leasing and business services, and scientific research and technical services. Foreign capital in the three industries accounts for 77.5% of the total in the tertiary industry. As the city with the largest number of regional headquarters of multinational companies on the Chinese mainland, foreign-funded enterprises that have invested and developed in Shanghai for years are also sparing no efforts to localize and innovate, striving to move from “Made in China” to “Created in China.”
Dr Pavol Dobrocky, President and CEO of Boehringer Ingelheim China, said that since 2019, Boehringer Ingelheim has launched the “China Key” strategy, fully integrating China into the group's global early clinical development, and achieving the simultaneous registration and launch of innovative drugs worldwide. In just three years, Boehringer Ingelheim has reached cooperative agreements with 19 top domestic hospitals in China and launched 14 global innovative early clinical research projects in China. “In the next five years, Boehringer Ingelheim plans to increase its investment in China by more than €90 million. Driven by the 'China speed,' more innovative products will be approved in China and benefit Chinese patients sooner,” the Shanghai Daily reports.
Shanghai also launched two comprehensive sets of 41 policies and measures to boost international trade and investment. Some of the new policies are aimed at assisting key enterprises and products with customs clearance, financing and tax breaks. For example, the city is assisting firms that manufacture electromechanical and high-tech products in expanding their international markets. It also encourages the expansion of imports of critical energy and mineral products, as well as key agricultural products. The Shanghai branch of the Export-Import Bank of China will establish a special credit line of CNY10 billion for foreign-trade-oriented small and micro enterprises, while the Shanghai branch of the China Export & Credit Insurance Corp (Sinosure) will underwrite at least USD50 billion in policies for the entire year. More international container shipping companies that meet the requirements are encouraged to conduct business trials along the coast. Headquarters of multinational enterprises that meet the requirements may be eligible for subsidies and rewards under the law. The city is also broadening the recognition of foreign high-end talent (Class A) and foreign professional talent (Class B), as well as providing easy entry, exit and residence permits for executives and foreign technical personnel of foreign-invested enterprises and their families.
