Shanghai's foreign enterprises are doubling down on their commitment to China's market following renewed pledges of economic openness outlined in a government report submitted to the National People's Congress this week. Executives from multinational corporations based in the commercial hub told CGTN they view China's latest policy signals as a catalyst for growth.
'China's emphasis on high-quality development aligns with our long-term strategy,' said one senior technology executive, echoing a sentiment shared by leaders in manufacturing and green energy sectors. Over 50% of surveyed foreign firms in Shanghai reported plans to increase R&D spending by 2025.
The government work report highlights streamlined market access and improved intellectual property protections – measures experts say could attract $15 billion in additional foreign investment this year. Recent infrastructure upgrades in the Yangtze River Delta region further enhance Shanghai's role as a gateway to Asia's consumer markets.
This development comes as China reforms its financial sector, with the Shanghai Stock Exchange launching new financial instruments for foreign investors last month. Analysts note that sustained opening policies position China to remain Asia's top foreign direct investment destination through 2030.
