SOURCE / ECONOMY
Shanghai welcomes more French investment: mayor
Published: May 30, 2023 12:26 PM Updated: May 30, 2023 12:18 PM
A view of Shanghai, China's major financial hub and destination for foreign investment Photo:VCG

A view of Shanghai, China's major financial hub and destination for foreign investment Photo:VCG



Shanghai welcomes more French companies to invest in Shanghai including more new projects, businesses and technology to Shanghai, Shanghai Mayor Gong Zheng said in a meeting with the French ambassador to China on Monday, according to Shanghaifabu, the official WeChat account of the Shanghai municipal government.

Gong said he welcomes more French companies to attend the sixth China International Import Expo (CIIE) and looks forward to more research-level exchanges and strengthened innovation cooperation in biomedicine, artificial intelligence and aerospace.
 
It is hoped that the two parties will further expand cultural and artistic exchanges, strengthen cooperation in cultural industries and build a bridge of friendship between the two peoples through friendly cultural exchanges, Gong said.
 
French Ambassador to China Bertrand Lortholary said that France will continue to support  French companies taking root in Shanghai, noting that there are nearly 1,000 French companies operating in the city.
 
France will take an active part in the sixth CIIE to showcase agricultural products with its own characteristics and provide quality commodities for Chinese consumers, he said.

France also looks forward to further strengthening cooperation with Shanghai on economic issues, environmental protection, culture, medicine and universities, according to Lortholary.
 
In 2022, China's financial hub Shanghai saw a record actual use of foreign investment of $23.9 billion, according to the municipal commission of commerce.
 
The metropolis in East China is now home to 891 regional headquarters of multinational corporations and 531 foreign R&D centers.
 
The commission said Shanghai would make every effort to foster a market-oriented, law-based and international business environment.
 
The city will also strive to provide more accurate, convenient and efficient government services for foreign companies in Shanghai and support them to take root in Shanghai and grow bigger and stronger, it added.