Convention to show city still inspires confidence among foreign financiers

The 2020 Shanghai City Promotion Convention, held on Nov 6, is expected to showcase the city's confidence and determination in opening-up despite an unstable economic climate due to the pandemic.

Organized by the municipal government, the convention is part of Shanghai's efforts to attract foreign investment, which has played a vital role in the city's development.

It will showcase the city's openness and innovation capability as well as its inclusive business environment.

Held during the third China International Import Expo, the convention is also a move to amplify the spillover effect of the CIIE, officials said.

"Last year, we had a successful first city promotion convention, which gained wide applause from multinational companies and investment promotion organizations," said Zhang Guohua, vice-chairman of the Shanghai Commission of Commerce.

"This year, the overall economic environment has changed much due to the COVID-19 outbreak. Despite the changes, Shanghai still attaches great importance to opening-up," Zhang said. "We want to fully showcase the country's confidence in promoting economic globalization through the event."

According to organizers, some 200 guests are to participate in the event, including executives from both domestic and international companies, representatives of international investment promotion agencies and diplomats based in Shanghai.

In addition to the keynote speeches that introduce and promote the city, top management of multinational companies based in Shanghai will also share their insights on the city based on their development experiences.

A foreign service sector will be officially opened at the city's online integrated service network platform, the latest move by the city to build a first-class business environment.

Designed for multinational companies and foreigners, the service sector provides English guidance and integrates more than 150 service items involving 25 government departments in the city.

The city is also planning to add multi-language service into the sector, officials said.

"I was impressed by the ambition and progression displayed by the various presenters at last year's event, showing the developments and policies of their respective districts in Shanghai," said Arjan Van Der Oort, chief financial officer of Boehringer Ingelheim of the Chinese mainland, Hong Kong and Taiwan. "It was a great opportunity for Boehringer Ingelheim to get a flavor of the citywide vision, as well as the implementation regulations."

"This year, I look forward to learning more about the progression of the projects and goals presented last year. I'm also eager to identify the requirements and long-term vision of the Shanghai government, so we can assess whether Boehringer Ingelheim is capable of addressing those needs," he said.

Well-organized and widely attended by the international business community with many Fortune 500 companies present, the convention clearly demonstrates Shanghai's openness to foreign businesses, and commitment from the top leadership to the vision and confidence in the city's competitiveness and attractiveness, said Ma Weifeng, East China director of the China-Britain Business Council.

"Shanghai's strategic positioning, mission and vision, and broad development opportunities for businesses are elaborated at the event," he said.

"It provides a perfect opportunity for Shanghai to present its development blueprint and facilitate exchanges, economic cooperation and trade opportunities," he said. "CBBC and our members look forward once again to attending the event this year."

The convention is to be livestreamed as well.