Concerted effort cultivates an ideal environment for foreign investment
The GKIC (Great Knowledge and Innovation Community) park near the Wujiaochang subcenter in Yangpu District has been listed as one of China's 15 demonstration parks in the cultural sector, the only one of its kind in Shanghai.
Yangpu District saw a record-high actual utilization of foreign direct investment amounting to US$1.24 billion in 2023, marking a 13 percent increase from the previous year.
The district attributes the success to a comprehensive approach that includes targeted recruitment strategies, enhanced communication mechanisms and robust protection policies for foreign investments. Creating a warm and welcoming environment for foreign enterprises is a top priority for Yangpu, the district government said.
"My company is based in Yangpu, and it feels like a window to the pulse of Shanghai's development," said Gregory Cuny, president of Vitesco Technologies China.
Cuny said over the past decade, he has witnessed the rise of corporate headquarters along Dalian Road and the improvement of Yangpu's business environment.
To accurately represent and address the needs of foreign companies, the Yangpu Foreign Enterprise Association serves as a bridge between the government and businesses.
In recent years, a coordination mechanism for foreign investment has been established, featuring a specialized team from multiple departments. This team addresses the concentrated needs of enterprises, providing consultation and tailored solutions in areas such as policy, law, finance, management, talent, and labor relations. These efforts safeguard the legitimate rights and interests of foreign enterprises and their investors.
Henkel's experience highlights the effectiveness of Yangpu's collaborative approach.
When seeking a suitable location for its consumer goods research and development center, the company faced challenges related to space requirements and environmental assessments. The local government intervened, coordinating efforts between the Bay Valley Science and Technology Park, property owners and Henkel to resolve these issues and facilitate the project's launch.
Events such as the "German Enterprises Entering Yangpu Promotion Activity" and "Sino-German Industry Matching Roundtable Conference" have been instrumental in fostering international partnerships.
The Laos Economic and Trade Cooperation Expo made its debut at the Yangpu riverside last November.
The Spanish skincare brand, Isdin, founded in 1975 and known for its expertise in photoprotection, has shown interest in deepening its ties with Yangpu. Juan Naya, the CEO of Isdin, expressed enthusiasm about the innovative atmosphere and potential for collaboration during a visit to the district.
"We are impressed by the rapid development of Shanghai and the vibrant entrepreneurial spirit in Yangpu," Naya said. "We hope to strengthen our communication and explore more cooperation opportunities to bring more high-quality products to Chinese consumers."
Yangpu is also expanding its presence on the global stage, particularly through engagements with countries along the Belt and Road Initiative.
The establishment of the Laos Economic and Trade Cooperation Expo hall in Yangpu last November represents the initial phase of the partnership. It serves as a platform for facilitating trade between Yangpu and Laos, showcasing the district's commitment to enhancing economic ties and improving market access for both regions.
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