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Shanghai Businesses Encouraged to Invest Overseas
A center for promoting overseas investment was set up Friday in Shanghai.
Jiang Yiren, vice mayor of the city, said that the establishment of the new center is designed to encourage local companies to expand overseas.
The new center will participate in the drafting of Shanghai's policies regarding making investments abroad and collecting and publishing information on foreign countries' policies, investment regulations and market demand. It will also provide services for private enterprises wanting to invest abroad, including the training of workers assigned for overseas posts.
Up to October this year, local businesses of Shanghai have invested in more than 560 projects in 70 countries and regions, with an investment value of US$440 million.
In contrast, Shanghai has approved more than 20,000 overseas-invested projects, with contracts involving over US$30 billion of overseas investment.
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