China is enlarging the scope of investment by foreigners with a revised catalog of industries in which such investment is encouraged, a fresh sign of opening-up and high-quality development resolve.
Shanghai became the first city in China to launch a pilot policy that simplifies currency exchange services for foreigners.
The Pudong New Area issued three new policies at the 2020 Shanghai Global Talents Innovation and Entrepreneurship Summit on Dec 24.
Regulations of Shanghai Municipality on Encouraging the Establishment and Development of Foreign-funded Research and Development Centers
A Foreign-funded R&D Center is an institution set up by foreign investors to engage in research, development and experimental development in natural sciences and related fields of science and technology.
The Pudong New Area in Shanghai will strengthen the inspection of infringement of online intellectual property rights and gather global IP services providers at a new hub port to better protect IPR of both domestic and foreign businesses.
Shanghai has updated administrative measures for overseas talent residence permits to better serve international talent working in the city.
The municipal government of Shanghai pledged on July 31 to cut at least 100 billion yuan ($14.3 billion) worth of expenditures for the city's small and medium-sized enterprises.
China will build national high-tech zones with better layout and innovation capability by 2025, according to a circular issued by the State Council on July 17.