Shanghai looks to attract foreign capital in manufacturing

Updated 2017-03-09 09:29:28 Xinhua

Shanghai commerce authorities said Wednesday the city will make a plan to attract foreign capital into the manufacturing sector.

Shang Yuying, director of the Shanghai Municipal Commission of Commerce, said manufacturing is key to reviving real economy and an important source of innovation. Shanghai will invest in manufacturing, especially those using advanced, intelligent or green technologies.

Shanghai will reduce limitations on market access for creative businesses, she said. Foreign manufacturers can also get financial, logistical and other help.

Shanghai has tried to attract more foreign talent. It has canceled the 60-year-old age limit to apply for work and residence permits for high-level foreign professionals.

During the 13th five-year period (2016-2020), manufacturing is expected to make up 25 percent of Shanghai's total GDP, according to the municipal economy and information commission.

More than 580 transnational companies, eighty percent of which are manufacturing businesses, have their regional headquarters in Shanghai, data show.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58August 21 2017 22:08:53

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16August 21 2017 22:08:53

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18August 21 2017 22:08:53

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

Most Watched

News:
China World Business Sports Showbiz Audio
Video:
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
Photos:
China World Fun Travel Entertainment Sports
Travel:
Beijing Shanghai Guangzhou
Lifestyle:
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords