Support for foreign businesses wins district award

The 2018 Songjiang District Science and Technology Startup Incubator Award was granted to Kudosbay Information Technology Co for its support for foreigners starting businesses in the district.

Through changing the original investment promotion strategy and adopting innovative thinking, Kudosbay attracted foreigners to Songjiang and cultivated a new way and brand in the global service sector trading field.

Located in the national-level Shanghai Songjiang Economic and Technology Development Zone, Kudosbay is a service center dedicated to providing solutions for expats doing business in China.

Within three years, it has offered various consulting services to tens of thousands of expats from more than 100 countries and regions.

It also organized more than 40 entrepreneurial activities, training and lectures, and match-making symposiums between Chinese and foreign entrepreneurs.

So far the monthly number of foreign merchants attracted by Kudosbay constitutes 50 percent of newly arriving foreign merchants in the district.

Kudosbay has been incubating a total of nearly 200 companies and introduced more than US$26 million in registered capital from more than 50 countries and regions.

Among the incubated companies, 56 came from Belt and Road countries.

In April, Kudosbay helped Xike (Shanghai) Trading Co obtain the first wholly foreign venture business license after Shanghai launched the integrated registration service system for starting business.

It also helped Shanghai Lingke Advertising Co obtain the first foreign enterprise customs certificate after Customs and the Entry-exit Inspection and Quarantine Bureau merged.