Lujiazui hailed for strong business climate

Lujiazui in Pudong New Area, Shanghai is attracting domestic and overseas businesses with its ever-improving business environment.

"The fact that we're based in Lujiazui says more about our company than words ever could",said Li Wenyi, vice manager of Ping An International Financial Leasing Co, which set up operations in the area several years ago.

He noted how the area has become a major selling point for the company.

At the beginning of last year, officials in Pudong New Area proposed that government departments at all levels should strive to optimize business climate and provide better services for local companies.

The companies in Lujiazui are what keep the area functioning, said Zhang Yuxiang, a local official.

With streamlined approval procedures and improved efficiency, the local administration has shortened the time required to implement supportive polices for companies. By March 31, 1,399 companies in Lujiazui had been approved.

"The swift implementation of government policies has supported the capital demands of companies and helped us improve performance this year," said an official from Bank of China Investment Management.

At the end of last year, Elekta, a world-class provider of cancer care devices and solutions, established its China regional headquarters and the Shanghai global R&D center in Lujiazui.

The Elekta Instrument (Shanghai) is one of eight multinational company headquarters established in Lujiazui last year.

"It's amazing to be able to go through the entire process in just two months," said Gong Anming, executive vice-president and China CEO of Elekta. He added that the local administration offered one-stop services for the company when it encountered problems during the registration process.

As of now, Lujiazui houses a total of 105 regional headquarters of multinational companies, accounting for about one-third of the total in Pudong New Area.

In order to attract even more companies, a development service office for headquarters was established in the area last year, proving services such as professional consultation, liaison and talent services, policy promotion, as well as forums and salons.

Moving forward, Lujiazui will continue to roll out new reform and service measures to optimize its business and investment landscape and offer local companies the lawful, international business climate they need.