Shanghai plans foster new business formats

Shanghai has drawn up an action plan to foster new business formats, and will further build the city's development momentum for a digital economy in the next three years. 

Shanghai will continue to implement decisions by the State Council to further its opening up measures, and further optimize its business environment that is international, based on lawful rules and convenient, according to a meeting presided by Gong Zheng, Shanghai deputy Party secretary and the city's acting mayor.

Shanghai will draw on previous experience to better leverage online infrastructure to further attract foreign investment. Such practices shall be expanded across the city. It will also offer tailor-made services for enterprises to make it easier to conduct business. 

Shanghai hopes to become home to at least 100 innovative enterprises, build up at least 100 businesses to fully apply new technologies, foster at least 100 branded products and make at least 100 breakthroughs in cutting-edge technology. 

The development of a digital economy is the focus of Shanghai's efforts to rejuvenate economic development as the city fights against the coronavirus pandemic, and it's also an important measure for Shanghai to build up new advantage and new development momentum. 

Shanghai will turn a challenging situation into new development opportunities to become a leading player. 

It will also tackle systematic drawbacks, push further development as well as drive synergies for multiple ongoing tasks. 

The city has also amended its medical insurance management rules to ensure unified work at both district level and city level.