Deals signed to develop key innovation projects in Shanghai's Xuhui

Editor's note:

Shanghai, a well-established destination for investment from home and abroad, is confident it will attract more quality investment thanks to better policies and services.

Agreements on a dozen new projects to be developed in Shanghai's Xuhui District were signed on Tuesday, spanning trade logistics, intelligent vehicles, life health, game and food, and indicating its growth and innovation aims for 2024.

The key projects involve leading state-owned or private firms, such as Minmetals, Geely, China Resources and Yokagames.

The downtown district held its annual investment attraction conference on Tuesday, honoring more than 100 key enterprises and office buildings that contributed to its economic development in 2023.

Xuhui maintained robust economic growth momentum last year, with its gross domestic product and district-level fiscal revenue growth rates ranking second in the city, the district government said.

The number of regional headquarters of multinational companies and foreign research and development centers in Xuhui led Shanghai's central urban area.

Ti Gong

"The CEO of Kenvue and our global leadership team were very impressed by the business environment of Shanghai and Xuhui, which is highly principled and world class, and centered on openness and integrity," said Arpaporn Samabhandhu, president of Kenvue China.

The leading consumer health company received the Outstanding Contribution Award for Foreign Enterprises in 2023 from the Xuhui government.

"Xuhui has provided full support services and high-quality resources to facilitate our development in Shanghai," said Yu Qihao, general manager of Minmetals's Shanghai affiliate.

Xuhui also released a new batch of 112 measures to further optimize its business environment.

These measures include benchmarking against the World Bank's Doing Business assessment system to address market access and competition challenges.