Shanghai holds investment promotion roadshow in Singapore

An "Invest in Shanghai, Share the Future" overseas promotion campaign was held in Singapore on January 29.

The roadshow of key investment promotion projects for 2024 to build Shanghai into an international consumption center was co-organized by the Shanghai Commission of Commerce and the Pudong New Area Government, assisted by the Singapore Chinese Chamber of Commerce and Industry and supported by International Enterprise Singapore.

More than 150 people attended the event, including representatives from Temasek, CapitaLand, Hong Leong, Keppel, DBS Bank, business associations and professional organizations in the city state.

Zhu Yi, deputy director of the Shanghai Commission of Commerce, delivered a keynote speech and provided details about economic and trade exchanges between Shanghai and Singapore.

Singapore is one of Shanghai's important sources of foreign investment and one of the main destinations for Shanghai's local enterprises to "go global" in carrying out trade and investment.

Zhu said that Shanghai will continue to expand cooperation with Singapore. The two sides will vigorously develop projects, share experiences and strengthen ties in areas such as business services, financial services, digital economy, technological innovation and urban renewal.

Shanghai is accelerating the construction of a modern socialist international metropolis with world influence, strengthening the "four major functions" of global resource allocation, technological innovation, leading high-end industries and opening-up hubs, which will create more market opportunities for Singaporean companies, she added.

Shanghai will continue to create a good business environment and provide convenient and high-quality services for Singaporean investors to further accelerate their development in the city.

Yang Chao, executive deputy director of Pudong, introduced the achievements of institutional opening up in the Pudong New Area and the China (Shanghai) Pilot Free Trade Zone.

Yang said that Pudong has taken the lead in connecting with international high-standard economic and trade rules such as the CPTPP (Comprehensive and Progressive Agreement for Trans-Pacific Partnership) and DEPA (Digital Economy Partnership Agreement).

Pudong will make full use of legislative authorization to serve more overseas investors.