Foreign Investors Encouraged to Acquire Firms in Shanghai

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Last updated at: (Beijing Time) Sunday, November 24, 2002

Foreign Investors Encouraged to Acquire Firms in Shanghai

Authorities in Shanghai are drafting policies to encourage foreign investors to annex or acquire local firms in seven fields, an official said Saturday.

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Authorities in Shanghai are drafting policies to encourage foreign investors to annex or acquire local firms in seven fields, an official said Saturday.

Liu Jinping, vice-director of the Shanghai foreign investment committee, said at an on-going symposium on transnational annexation and acquisition, the seven fields include high technology, new products and environmental protection.

Foreign investors in Shanghai have recently shifted their focusfrom setting up joint ventures or solely-invested companies to annexing or acquiring local companies directly. This new trend hasled the city authorities to adopt relevant policies and simplify procedures, according to Liu.

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