With the 7th China International Import Expo in the spotlight, Shanghai hosted the Invest in China 2024 - Shanghai City Investment Promotion Conference on Nov 6, showcasing its open policies and development opportunities to attract more businesses and talent.

"The 7th CIIE has called for upholding open consensus and expressed firm confidence in promoting high-quality economic development in China," said Chen Jining, Party secretary of Shanghai, addressing conference attendees. "Shanghai will intensify efforts to deepen reform and opening-up to unleash new vitality for high-quality growth."

Shanghai's economy maintains strong resilience and vitality, holding significance for the long-term strategic investment and development of multinational companies, Chen said. He went on to highlight China's long-term growth advantages, robust industrial and supply chains, cost-effective innovation capabilities, and policy stability — coupled with Shanghai's deepening economic transformation. Chen invited global firms to seize opportunities in the city and China.

Gong Zheng, mayor of Shanghai, described Shanghai as an innovative, open, and aspiring city ideal for global investment, innovation, and entrepreneurship, crediting the city's location, industrial mix, resources, government services, and ecological environment.

In his speech, Gong recommended sectors like biomedicine, automotive, digital economy, finance, environmental protection, new consumption, high-growth industries, and real estate. Shanghai aims to facilitate investment through market opening and competitive policies focused on key areas and projects, he added.

At the event, Shanghai's 13 districts signed 23 foreign investment projects spanning biomedicine, high-end equipment, advanced materials, fashion consumption, and green low-carbon development.

Executives from multinationals participating in the event praised Shanghai's business environment and the value of CIIE as a platform. Deng Jian, vice-president of Commercial Operations at medical device giant Medtronic, said Shanghai is crucial for the company. Having entered China 35 years ago, Medtronic now uses the city as a headquarters for driving its development nationwide.

Medtronic remains upbeat on the Chinese healthcare market and innovation potential, increasing investments such as its new cardiovascular production efforts in the Lin-gang new area in Pudong. Deng also lauded CIIE for helping accelerate market access by serving as the platform for around 60 premieres and the launch of nearly 400 products over seven editions of the event.

For agriculture and food giant Cargill, participation in CIIE for seven straight years has helped build local ties and produce insights to tailor more products for China, said Guan Huili, president of Cargill China. From just over 10 products initially to over 120 innovations this year, including global premieres, the company has localized a number of its CIIE launches to meet demand for quality, health, and sustainability.

With its China headquarters in Shanghai, Guan said the city's open, inclusive, and innovative identity aligns with Cargill's philosophy, representing an important market and platform for better customer service and more innovations.

The 2024 Shanghai City Investment Promotion Conference was jointly held by the Ministry of Commerce and the Shanghai Municipal People's Government.