Foreign chambers of commerce confident in city's business environment

Ti Gong

Foreign chambers of commerce in Shanghai expressed confidence in the city's business environment during an exchange meeting in downtown Huangpu District on Monday.

Representatives from over 10 chambers of commerce in the American and Oceania regions attended the meeting overseen by the Shanghai Investment Promotion Partnership (SIPP), a citywide investment promotion and communication mechanism, at the Museum of Contemporary Art Shanghai (MoCA).

The event, titled "Investing in Shanghai, Sharing the Future" and themed "Urban Development and New Momentum," aimed to further optimize Shanghai's foreign investment environment and enhance communication and interactions between investment promotion agencies and chambers of commerce in the American and Oceania regions.

The representatives reviewed the participation of their countries in previous China International Import Expos and made suggestions to further strengthen bilateral economic and trade cooperation.

They also expressed their confidence in China's and Shanghai's future development.

Sean Stein, chairman of AmCham Shanghai, said many countries aspired to be the "next China" when it came to attracting foreign business, and there were discussions about where the next "Chinese miracle" would happen.

Stein expressed confidence in the Chinese market and Shanghai's future development. "The next China is China; the next Shanghai is Shanghai," he said.

Matt Whately, executive director of the Canadian Chamber of Commerce in Shanghai, said Canadian companies would encounter more opportunities for development in China with the gradual increase in bilateral trade between Canada and China and the accelerated progress of urban renewal in Shanghai.

He said that Canadian companies had been participating in many urban renewal projects in Huangpu since the 1920s and 1930s.

Canadian companies are willing to participate in cooperative projects in various fields, from design and development to management, business and innovation, he said.

Ma Hongxia, chief representative of the Illinois China Office, expressed anticipation of more exchanges and cooperation between Chicago and Huangpu District in the field of urban planning.

She said as the core area of central Shanghai, Huangpu possessed a rich historical and cultural heritage and modern architectural landmarks.

Zhu Yi, deputy director of the Shanghai Commission of Commerce, noted that the American and Oceania regions have always been important sources of foreign investment for Shanghai.

The visits of high-ranking officials and executives from those countries and regions to China and Shanghai this year demonstrated their trust in China's and Shanghai's future economic development, Zhu said.

She emphasized that Shanghai would continue to expand its opening-up policies and strive to provide a better development environment for foreign enterprises in the city.

The representatives visited the former home of the Shanghai Municipal Council and the city government near the Bund before their meeting.

The nearly century-old building at 193 Hankou Road, where many historic events took place, has been preserved and renovated into offices, cultural and public space, as well as commercial property.