Shanghai is preparing to deepen opening-up and further facilitate foreign investment and match global standards to achieve the city's strategic blueprint laid out by the central government.

Shanghai Vice Mayor Hua Yuan told a working meeting on Wednesday that city officials and investment promotion agencies should be aware of the challenges, but at the same time remain confident about the overall stable and upward economic trend.

Shanghai shall fully leverage exiting advantages and mitigate potential risks to further ensure high-quality economic development, he said.

Stabilizing trade volume and optimizing the cross-border trade environment remains the city's key objective in 2024, as well as inviting foreign investment and invigorating consumption sentiment, he added.

Four major business districts in the city laid out their key tasks to further promote investment and enhance business environment in the coming years.

The Pudong New Area

·Improve Shanghai FTZ's trade rules with pioneering opening-up measures

·Optimize digital economy regulation

·Encourage digital trade and foster an industry cluster which focuses on cross-border e-commerce trade

Xuhui District

·Optimize new commercial and shopping infrastructure

·Enhance the shopping experience and overseas payments for inbound visitors

·Encourage shopping malls to better integrate with cultural and tourism venues

·Invite flagship brands to set up physical stores and invigorate time-honored brands

Minhang District

·Fully leverage existing industrial parks to invite new investment in strategic segments

·Ensure new working mechanisms to better facilitate foreign investment

·Combine district-level resources to step up investment promotion activities

Hongqiao Central Business District

·Leverage professional service providers in the area to connect with enterprises in the Yangtze River Delta region

·Promote data sharing platforms with neighboring provinces to offer one-stop services

·Encourage local professional service providers to expand their presence in overseas markets