Meeting with Deputy Director General of Shanghai Municipal Development and Reform Commission on BCS and Local Business Environment

2019-06-12 | Shanghai

On 12 June, Dr Ioana Kraft, General Manager of European Chamber Shanghai Chapter, visited Shanghai Municipal Development and Reform Commission and presented key findings of Business Confidence Survey to Mr Zhu Min, Deputy Director General of the Commission. While China announced many opening policies in the past year and the European business remain committed to the China market, the European Chamber member companies are expecting China to accelerate its reform and opening-up pace. Many sectors such as ICT and legal services remain high market access barriers to foreign investors. The survey also shows the European business is worried that the US-China trade tension will slow down China's economic growth and ultimately impact foreign business operation in China.

Mr Zhu appreciates the Chamber's efforts in bringing the business concerns to the government and assisting the Chinese authorities to improve local business environment. He said the Shanghai Government attaches greater importance to the European business under the current global trade environment. Regarding the highly restricted sectors to the foreign investors, the Shanghai Municipal Government continues to discuss opening-up measures with the central authorities and more new policy announcements can be expected in the near future. He also introduced the two newly established departments in the Commission - the Division of Opening Economy and the Division of Doing Business, and offered to facilitate business operation for the European business.

Both sides also exchanged views on the Foreign Investment Law, further expansion of Shanghai Free Trade Zone, upcoming Negative List updates, access to information and subsidies for European small and medium-size enterprises, etc.