Business delegations from Shanghai's Pudong New Area headed to Japan to boost trade and investment in overseas markets earlier this month.

During the first stop on their tour in Japan, government departments from Pudong and the Waigaoqiao Group held the first promotional investment event in Tokyo on Jan 10.

More than 50 major Japanese enterprises and institutions, such as the Bank of Tokyo-Mitsubishi UFJ, Mizuho Bank, and Sumitomo Mitsui Bank took part in the event.

Pudong's commerce commission officials introduced the new area's development of foreign-funded companies, promoted reform and high-level opening-up, industrial growth planning, and the area's business-friendly environment, financial support and abundant investment resources.

A Pudong's commerce commission official introduces the new area's development on the tour in Japan. [Photo/WeChat account: gh_01c6f7b4cf3d]

Participants also learned about Pudong's preferential policies for investors and its bonded zone's competitiveness in key sectors like biotechnology and medical equipment manufacturing.

Representatives of the Bank of Tokyo-Mitsubishi UFJ and the Japan External Trade Organization agreed that Shanghai and Pudong are still strategic investment destinations for many Japanese-funded enterprises, and they are still optimistic about China.

The representatives also noted that the gradual resumption of people-to-people exchanges between China and Japan will further enhance economic and trade cooperation.

As a hot spot for investment, Pudong's appeal to foreign investors continues to increase. From January to November in 2022, the paid-in foreign capital of the New Area exceeded $10.43 billion, up 5.36 percent year-on-year, accounting for 46.65 percent of Shanghai's total.