Shanghai Policy Support For Private Investment

The Shanghai Government has given policy support to boost private investment, an important part of China’s economy, according to Gu Jun, deputy secretary-general at the Shanghai Municipal Government. Gu said private investors will benefit from improved market access, as the government breaks down invisible barriers and creates a level playing field. Government procurement departments will seek to source 40% from private SMEs and no longer require firms to use cash deposits as insurance for project completion. The Shanghai Government will offer other support such as tax benefits, reduced land acquisition cost and lower utility bills. (Source: Yicai)