Shanghai will introduce more preferential policies to attract more foreign investment, Jiang Yiren, vice-mayor of the city, said.
Shanghai will reduce the operation cost of those companies by clearing up illegal administrative surcharges, simplifying administrative approving procedures and reducing government service charges.
To reduce the manufacturing expenses, the costs of essential production factors and public facilities would be reduced.
Shanghai will amend the existing rules and regulations to guarantee that foreign-invested companies enjoy the same rights as the others.
The government will grant independent managing rights to those companies, instead of interfering with their businesses.
An arbitration centre has been set up to co-ordinate and solve disputes of those companies.
Besides, Shanghai will gradually establish a credit system in three years to meet the international trend.
(Xinhua News Agency March 26, 2002)
