ISSUING AUTHORITY:

The Shanghai Municipal Government

DATE OF ISSUANCE:

December 27, 2021

On December 27, 2021, the Shanghai Municipal Government released the Plan for Implementing Pilot Innovations to Improve Business Environment in Shanghai (the “Plan”), which introduced 172 measures to improve the business environment in 10 areas, including the market environment, government services, investment environment, foreign-related business environment, innovation environment, regulation environment, corporate lifecycle services, innovation highland, regional cooperation and legal environment.

In terms of improving the foreign-related business environment, the Plan focused on optimizing foreign investment projects and overseas investment management services, improving the level of cross-border trade facilitation and optimizing the management of foreign companies and international talent. Specific measures introduced to this end include fully implementing the foreign investment access system of pre-establishment national treatment plus the negative list, lifting restrictions on foreign investment in accounting and auditing, architectural design, and credit rating services, expanding reform to air and rail transport, experimenting with free cross-border flow of scientific research equipment and consumables, simplifying import and export procedures of research and development equipment and samples, exploring setting up a recognition system for international vocational qualifications and strengthening supervision of professional conduct, etc.

Reference:

上海市人民政府关于印发《上海市营商环境创新试点实施方案》的通知