Shanghai Government announced a construction plan on building “Shanghai international trade center” comprehensively based on the actual development of the city. It mainly analyses the challenges and opportunities according to the increase of global trade barriers, the reconstruction of international economic and trade rules, the deep adjustment of supply chain, the release of domestic demand potential, the rapid development of digital economy and the national strategic position for Shanghai.
The overall goal is the level of Shanghai international trade center has jumped after five years. Specifically speaking, is the basic construction of global trade hub, Asia-Pacific investment portal, city of international consumption center, Asia-Pacific supply chain management center, innovation highland of trade and investment system, and the overall construction of international exhibition capital. Detail measures are stating follows:
Ⅰ Cultivate new advantages of comprehensive competition for foreign trade, and build the global trade hub. 4 key points are included: first is to build an import and export commodity distribution center among Yangtze River Delta which serves the whole country and radiates Asia-Pacific area; second is to build a new development highland for international trade; third is to upgrade the level of knowledge-intensive services trade and continue to scale up technology trade; fourth is to build an international hub port for digital trade, explore and promote the construction of digital trade rules and regulations.
Ⅱ Further promote high-level institutional opening and build Asia-Pacific investment portal. 3 key points are included: first is to create a first choice of foreign capital and the implement a new round of high-level opening; second is to create a high-quality agglomeration for foreign capital; third is to build an opening pioneer for foreign investment cooperation, optimize the public service system, and cultivate a higher level of local multinationals.
Ⅲ Promote the sustained upgrading and expansion of consumption and construct the city of international consumption center. 6 key points are included: first is to innovate high-end consumption supply and speed up the economic development of tax-free; second is to create world-class business circles and commercial landmarks, cultivate characteristics and high-quality night economy; third is to expand leisure and sports consumption and also foreign consumption; fourth is to promote the digital transformation of consumption, accelerate the development of e-commerce innovation; fifth is to build the brand of "Shanghai Shopping", enhance the radiation and influence of the shopping festival; sixth is to promote the upgrading of life services and optimize community business.
Ⅳ Enhance the global influence and competitiveness of the EXPO, and build an international exhibition capital. 3 key points are included: first is to push the upgrade of trade, industry, consumption and opening, consolidate and amplify the global influence of the Hongqiao International Economic Forum; second is to enhance the ability of exhibition industry to allocate global resources, cultivate exhibition projects with international influence based on online and offline integration; third is to form a leading standards and improve post-event supervision, intellectual property protection and dispute resolution mechanism.
Ⅴ Promote the construction of modern circulation system and build the Asia-Pacific supply chain management center. 3 key points are included: first is to optimize the modern trade circulation system and promote the integration of domestic and foreign trade; second is to promote innovation and application of supply chain, promote digital and intelligent development; third is to build a commodity market with Asia-Pacific influence, promote trading rules innovation in the fields of steel and non-ferrous.
Ⅵ Continue to create a market-oriented, legal and international business environment, form a innovation highland for trade and investment. 4 key points are included: first is to promote the high-level institutional opening of Pudong New District, Pilot Free Trade Zone and Lin’gang New area; second is to build Hongqiao Business Area into a new platform as Shanghai international trade center, and continuously enhance its ability of serving the Yangtze River Delta; third is to improve the legal system to adapt to the high-quality development for cross-border trade; fourth is to optimize the development environment for international economic and trade talent, increase the introduction of outstanding oversea talents.
If you want to read the complete article, you can refer to the below link (in Chinese only): http://www.shanghaiinvest.com/cn/viewfile.php?id=16080
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Mr. Mike Chang (Partner)