Qingpu aims US$1.8 billion in foreign investment

Qingpu District aims to achieve a total contract value of US$1.8 billion in foreign investment in the new year and make doing business in the district easier in 2020, the district government announced on Monday.

The total paid-in value of the district's foreign investment is set to be US$900 million this year, and its logistics industry is expected to surpass the 100-billion-yuan (US$14 billion) scale, with software information and modern business and trade industry clusters standing at 50 billion yuan respectively in the new year, the district government said.

Enhanced development of high-end equipment, medical apparatus and instruments, new materials, automobiles, MICE and cross-border e-commerce industries are also on the agenda.

District authorities hosted a conference on improving the business environment and fueling investment on Monday.

The district will further cut red tape in government affairs application in the new year, authorities said.

"Improving the business environment will lift the district's competitiveness, and Qingpu will create a top-class business environment for companies to spur the vitality of market entities," said Zhao Huiqin, Party secretary of the district.

A one-stop service portal will cut the time taken to start a new business in the district to one day, and business licenses, invoices and company seals will be delivered via a single platform.

A total of 389 items can be handled via the district's one-stop platform for government affairs so far, involving 29 government departments, and authorities were ordered to further make approval procedures more time-efficient in 2020, said Yu Xufeng, director of the district.

"The goal is to expand the scope of online application and make the application of government affairs more convenient," said Yu. "The number of visits to different government authorities will also be cut in the new year and the utmost goal is a single visit to handle all relevant affairs."

Last year, the district cut the administrative approval time by 60 percent on average, and it will further be shortened this year. The number of materials to be submitted will be decreased as well with e-materials promoted.

The district plans to be home to 15 new enterprises with headquarters in the district, 30 digital economy enterprises, 24 MICE companies and three industrial parks in the new year.