Local major strategies lead economy boost
A group of 48 business projects worth more than 21 billion yuan (US$3.1 billion) were signed online in Qingpu District early this month.
Nine cover the digital economy, seven are related to the headquarters economy, and another seven are involved in biomedicine.
Thirteen projects, worth at least 500 million yuan each, amount to 17.4 billion yuan of investment, accounting for 84.9 percent of the total. There is one project worth more than 5 billion yuan.
The "cloud signing" event is a measure to accelerate economic recovery, promote economic development and boost confidence.
It also displayed the fruits of Qingpu's efforts in seeking investment and attracting capital, accelerated the development of the district and upgraded its development level.
Although the COVID-19 resurgence has had a short-term impact on the economic development, the promising long-term outlook and opportunities resulting from several major strategies have not changed, making its geographic location, resource and ecological advantages even more prominent.
The district will take advantage of several major strategies including the China International Import Expo, Yangtze River Delta Ecology and Greenery Integration Demonstration Zone, Hongqiao International Hub and the construction of Qingpu New City, promoting economic development while sticking to strict pandemic prevention and control measures at the same time.
The district will continue improving its business environment and spare no effort to help companies tackle problems and conquer difficulties.
The district has earmarked the first batch of funds totaling 18.78 million yuan to fuel companies' resumption of manufacturing and operations and help them get through tough times. Beneficiaries were exempt from application for the funds.
It has also exempted rents worth about 58 million yuan for small and micro-sized businesses and individual businesses hit by the COVID-19 resurgence.
The district has released 30 policies and measures to revitalize economic development, including steps to boost the foreign-invested enterprises.
Among the policies and measures, a quarterly round-table conference between government and foreign companies will be established to help solve problems.
Special funds have been launched by Qingpu to support the development of regional headquarters of multinational corporations – the headquarters economy.
Tackling financial difficulties
An exchange activity gathering banks, enterprises and Qingpu government was held this month, aiming to tackle the financing difficulties of foreign trade enterprises.
Boosting confidence is of great significance for the development of import and export enterprises during the vital period of economic recovery and revitalization.
A series of policies has been released to help foreign trade companies get through difficulties after they resume operations.
CIIE, which is held in Qingpu annually, has attracted a large number of outstanding companies to the district.
Construction of large infrastructure projects including the Qingpu New City Station of Yangtze River Delta Ecology and Greenery Integration Demonstration Zone Line is fast-tracked.
The initiating zone of Yangtze River Delta Ecology and Greenery Integration Demonstration Zone is gaining strong momentum, led by big platforms including Huawei's new R&D base in Qingpu and Xicen Science and Technology Innovation Park.
Foreign trade companies in the district are growing steadily and warming up after they resumed production and operations.
More policy and financial tools will be provided to help import and export companies combat the uncertainties of the external environment to ensure their better, quicker and steadier development.
Banks and companies can make full use of the financial policy tool of the Shanghai branch of the Export-Import Bank of China via more effective exchange.
The bank is expected to introduce more companies to invest in Qingpu. With its professional experiences and broad vision, they would explore future development opportunities together.
Wang Xuguo, director of the Shanghai branch of the Export-Import Bank of China, said the bank would enhance ties with government and enterprises and play an active role in stabilizing the market with financial tools.