Why this is important to Wisconsin businesses: These include efforts to attract specific types of FDI and enhanced technology for customs.
Shanghai Mayor Ying Yong has announced that the city will prioritize attracting foreign investors in the following three areas: those engaged in the services sector, those hosting regional/country headquarters, and those seeking to establish research and development sites.
To facilitate engagement between the government and foreign enterprises, the city also plans to host about 10 roundtable sessions this year with foreign companies, said Yang Chao, deputy director of the Shanghai Municipal Commission of Commerce.
Ni Yuefeng, head of China’s General Administration of Customs, said in a meeting in Beijing on April 18 that his agency will enhance the innovation side and the application of the new technology, and they aim to implement smart customs throughout the country by 2025. For example, for international trade, China’s customs service has been applying the "single window" policy, which allows foreign traders to declare cargo and taxes with a single submission on a web-based platform for free instead of filing documents repeatedly and running between different authorities. Such an improvement is believed to largely increase efficiency.