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Foreign Businessmen Show Great Hope in Shanghai's Future Development
Representatives from over 100 foreign companies attending the Economist Conference here have expressed their hope in Shanghai's development after China's entry into the World Trade Organization (WTO).
Jorn Fallet Kritensen, executive director of the Swiss insurance company of Winterthur, said at today's meeting that foreign companies will enjoy the national treatment in China and gain unprecedented development after the country becomes a WTO member.
Eddie Wang from the Hong Kong & Shanghai Banking Corporation Ltd. said that Shanghai, which boasts of its well-developed production bases, science research institutes and talents, will attract more international companies and overseas financial institutions.
Shanghai's Mayor Xu Kuangdi said that according to the legal principles of WTO, foreign businessmen will be granted national treatment, and are encouraged to participate in the reform of state-owned enterprises. In addition, the service sector and high-tech industry will be further opened to foreign investors.
He promised that the city government will work to create a favorable market environment for both domestic and foreign businesses.
The British journal, the Economist, one of the world's most influential commercial magazines, has held seven symposiums in Beijing in recent years. The subject of the current three-day meeting will examine commercial prospects in Shanghai.
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