SHANGHAI, March 20 (Xinhua) -- Shanghai has provided financial support and optimized customs clearance procedures to help foreign-owned and foreign trade enterprises resume work, local authorities said Friday.
Liu Min, deputy director of the Shanghai Municipal Commission of Commerce, said that all key foreign-owned and foreign trade enterprises in Shanghai have resumed work.
So far this year, Shanghai has signed projects worth more than 40 billion yuan (about 5.6 billion U.S. dollars) and seen the establishment of five regional headquarters of multinational companies and three foreign R&D centers.
The total numbers of regional headquarters and foreign R&D centers in Shanghai have reached 725 and 464, respectively, Liu said.
The city has offered financial support to foreign trade enterprises. Bank of China Shanghai Branch has added 4.08 billion yuan in loans to companies recommended by the commission and launched 20 billion yuan of special credit for foreign-owned, foreign trade, and service trade companies.
Liu said that the city would promote the signing of several foreign-funded projects in the next step, which is expected to boost the confidence of foreign enterprises.
