Meeting with SCOFCOM Director General Shang Yuying on Business Confidence Survey

2016-07-19 | Shanghai

In the meeting, DG Shang Yuying introduced Shanghai's economic development in the first half of the year and characterized it as "stable with progress and better than expectation". She emphasized the important role FIEs played in Shanghai's FTZ and Innovation Center initiatives and welcomed deeper communication with European businesses in Shanghai. European Chamber Vice President Mick Adams introduced the newly published Business Confidence Survey. He quoted the survey that most European companies in China faced increasing pressure in economic downturn and continued to face longstanding problems such as unpredictable legal environment, burdensome administrative redtapes and discretionary law enforcement. Companies would like to see faster implementation of the reform commitment and welcome replication of Shanghai FTZ reform nationwide. Regarding Innovation Center, companies would participate more and invest more in R&D if the restrictions on young talent visa and internet access could be lifted. DG Shang Yuying appreciated European Chamber's feedback and advice and looked forward to regular dialogue to better solve these problems.