Commerce authority and Bank of China ramp up foreign business support

Tracy Li
Supportive policies, services and relief measures have been rolled out in Shanghai to woo foreign enterprises and help them resume operations.
Tracy Li
Commerce authority and Bank of China ramp up foreign business support

The Shanghai branch of Bank of China and the city's commerce commission have rolled out supportive policies to woo foreign enterprises and help their business resumption.

Around 300 European firms, including Swiss food conglomerate Nestle and Stockholm-based Atlas Copco, a leader in sustainable productivity solutions, were invited to attend a virtual event co-organized by the bank and Shanghai Commission of Commerce.

The commission outlined to company representatives details of city policies aimed at supporting foreign entities' resumption of production and business operations.

Experts from Bank of China shared with attendees details of China's macroeconomic trends, forex and cross-border yuan policies.

As Shanghai emerges from the COVID-19 pandemic and restarts its economy in an orderly manner, Bank of China's Shanghai branch said it had implemented a series of relief measures for its clients.

In concert with the Shanghai Federation of Industry and Commerce, the Shanghai Commission of Science and Technology, as well as the Shanghai Commission of Commerce, the bank has run 170 business match-making events and facilitated more than 13,000 companies' return to work.

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