L'Oreal and IKEA bosses welcomed by Shanghai mayor

Shanghai Mayor Ying Yong met Jean-Paul Agon, chairman and chief executive officer of L’Oreal, and Peter Agnefjall, president and CEO of IKEA, last Wednesday.

Ying said foreign enterprises such as L’Oreal and IKEA have made great contributions to Shanghai’s economy. Ying advised them the city was working hard to build its Free Trade Zone and global technology and innovation center.

Shanghai’s ambition is to become an excellent global city by 2040, a city of innovation, culture, and ecology, Ying added.

He said Shanghai is an open city with lots of business potential. Its traditional businesses are undergoing reforms and e-commerce is on the rise. It will create a better, safer, and fairer market environment for foreign companies.

Agon and Agnefjall said Shanghai is a beautiful and dynamic city. It has witnessed L’Oreal and IKEA’s speedy development and benefited foreign companies with the Free trade Zone and other policies over the years.

They said their companies will continue to support construction of the FTZ and technology and innovation center, helping to build Shanghai as a global metropolis.