Shanghai's Jing'an district recently secured over 1 billion yuan ($138.66 million) in major investment commitments from nine companies operating in various industries.

The agreements — which were signed on May 8 at the High-Quality Development Investment Promotion Conference — are with companies like LVMH Fashion Group, lingshu.net, Shanghai Daoke Jinke Technology Equipment and Z-Trip Business Management.

They underscore the district's appeal as a hub for emerging industries and come in the wake of a strong first quarter for Jing'an, which saw 1,091 new projects initiated — with 978 falling within the district's six key strategic sectors.

Jing'an has already attracted several significant projects this year, including projects by the subsidiaries of China Electrical Equipment Group Digital Technology, Ximalaya, Galenic, Temasek and Beijing Gao Hua Securities.

To further assist business enterprises in their global endeavors, Jing'an is rolling out a multi-pronged strategy. One key aspect is enhanced financial support.

The district government signed strategic cooperation agreements with six major banks — including Bank of China Shanghai branch, Industrial and Commercial Bank of China Shanghai branch, China Construction Bank Shanghai branch and Industrial Bank Shanghai branch.

The agreements will facilitate cross-border financial services for key projects and companies seeking to expand overseas.

What's more, Jing'an is providing "overseas expansion service packages" which offer comprehensive support — encompassing strategic decision-making and implementation, including services in financing, taxation, legal affairs, brand promotion and human resources management.

The district has also established the Jing'an District Cross-Border Financial Services Center. It aims to streamline overseas investment processes by linking the district's overseas investment project consultation service point with a one-stop global service provider platform — offering businesses access to policy interpretation, procedural guidance and resource connections.

Moving forwards, Jing'an aims to cultivate another 100-billion-yuan "beauty" industry. It's focusing on creating a thriving business ecosystem that not only encompasses beauty product companies and industry resources, but also serves as a source of beauty-related innovative technologies.

Source: Jiefang Daily