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Shanghai welcomes foreign investment ahead of Import Expo

Updated: May 15,2018 3:11 PM

With the first China International Import Expo (CIIE) around the corner, Shanghai has made preparations to attract more foreign companies with several local districts joining the efforts.

Shanghai’s Jinshan district, which is located in the southwest of the municipal city, has inked 12 deals with foreign companies in fields including real estate, aircraft interior development and consumer goods.

The facial cleansing brush maker FOREO is going to locate its new manufacturing base in the city’s Jinshan district.

“We think Jinshan is a good place to make it happen. With the import expo, we think it’s always a good opportunity to meet more potential suppliers, clients and colleagues,” said Anthony Fitzpatrick, the general manager of the company.

As of this month, Jinshan district has signed agreements for more than 20 projects involving overseas companies and the total investment is expected to reach $670 million this year.

As a part of preparation for the CIIE, Jinshan introduced different policies to attract foreign business and help them adapt into local surroundings, said Zhang Quanquan, the deputy head of Jinshan district.

With China promoting its “Made in China 2025” strategy, Jinshan district plans to open an international service park for intelligent equipment designing and manufacturing companies by the end of 2020.