CBBC Launches First UK-Shanghai Business Dialogue

CBBC members take the opportunity to ask the Shanghai Municipal People’s Government about their key concerns going into the final quarter of 2020. Following the news that British investment into Shanghai grew by 228% during the first half of 2020, the China-Britain Business Council (“CBBC”) co-hosted the first UK-Shanghai Business Dialogue at the InterContinental Shanghai Ruijin on 27th August 2020 in partnership with Shanghai Municipal Commission of Commerce and Huangpu District People’s Government.

Tom Simpson, Managing Director of CBBC, opened by noting that “From theme parks and shopping centres to R&D centres and production facilities, Shanghai is a major destination for British investment. A key reason for this is the reception British investors receive when they invest here, and events such as today’s play a role in this.”

The dialogue was attended by Mr XU Kunlin, Vice Mayor of Shanghai Municipal People’s Government, who commented that “Industrial development in Shanghai and the UK are highly complementary to each other.” He also noted to the over 100 attendees representing municipal-level bureaux and offices, major UK companies, and companies based in Huangpu District that “Broad cooperation opportunities can be found in financial services, biomedicine, the cultural and creative industries, professional services, education and tourism, and other industries. I look forward to UK companies taking root in Shanghai, the world’s best market.”

During the dialogue, senior representatives from CBBC member companies – Aberdeen Standard Investments, Jardines, Deloitte, Jaguar Land Rover, Atkins, BSI, and Samarkand Global – had the opportunity to ask questions relating to Shanghai’s business environment and investment policies. The dialogue was moderated by Madam SHANG Yuying, Deputy Secretary General of Shanghai Municipal People’s Government, and responses to each question were provided by representatives from the Shanghai Municipal Commission of Commerce, Tax Bureau, Development and Reform Commission, Housing and Construction Commission, Financial Regulatory Bureau, Human Resources and Social Security Bureau, and Lingang New Area.

The dialogue covered an extensive range of topics, with particular focus given to the importance of financial professional services reform, how to best attract overseas talent, the cost of human resources, the need for mutual recognition of professional qualifications, and how to optimise policies concerning tax relief and subsidies. As well as these topics, there were questions covering relevant local concerns, including on the future development of Lingang New Area of China (Shanghai) Pilot Free Trade Zone, further integration within the Yangtze River Delta region, epidemic prevention and control work during the 3rd China International Import Expo (“CIIE”), and a fast-track programme for the convenience of foreign exhibitors at the CIIE.

The dialogue also saw Mr CHAO Kejian, District Mayor of Huangpu People’s Government, outline the key industries within Huangpu and the investment opportunities they present. In addition, a delegation from Shanghai Municipal Commerce Commission detailed the preparatory work being carried out for the CIIE later this year.

View photos from the event HERE