Foreign investment association established
Minhang District set up a foreign investment association on August 18, strengthening its efforts to develop a global market-oriented economy.
The district is currently home to 11,160 foreign-funded companies, 65 multinational headquarters and 87 foreign research and development centers.
The new organization was jointly initiated by Heraeus (China) Investment, Evonik (China) Investment Shanghai and Estee Lauder (Shanghai) Commercial Co, with 128 companies as founding members.
During the launch ceremony of the association, Chen Yujian, Minhang's Party secretary, said "the district will always regard foreign companies as its fellow travelers in growth; partners in entrepreneurship, and family members in emotion.
"The new association will promise the foreign companies a more open business environment," Chen added.
Ai Zhouping, president of Heraeus China, was elected as president of the association.
"The association will be an open and beneficial exchange platform for membership companies, as well as a bond between foreign companies and the government," Ai said.