Issue 28

Shanghai Weekly Bulletin

No. 3,January 2024

Shanghai Weekly Bulletin is an information service presented by the Foreign Affairs Office of Shanghai Municipal People's Government in collaboration with Wolters Kluwer to foreign-funded enterprises, foreign-related institutions as well as people from overseas living in Shanghai. Covering major national and Shanghai foreign-related news, event information, policy Q&A and interpretations in the past week, it keeps you up-to-date with the latest foreign-related policies and developments in Shanghai.

Laws and Regulations

【National】

1. China Unveils Measures to Facilitate Entry of Foreign Nationals

【Keywords: Foreign Nationals; Entry into China】

 

The National Immigration Administration (NIA) has begun to implement five measures to facilitate entry of foreign nationals into China since January 11, 2024. The measures include relaxing the conditions for foreign nationals to apply for port visas to China, allowing foreign nationals to transit through Beijing Capital Airport and other designated international airports in China without going through immigration procedures for up to 24 hours, allowing foreign nationals who are in China to apply for a visa extension or replacement with a local administration, permitting foreign nationals in China who need to enter and exit the country multiple times for legitimate reasons to apply for a multiple-entry visa, and simplifying visa application materials.

 

Source: NIA

 

2. NFRA Consults Public on the Revised Measures for the Administration of Financial Leasing Companies

【Keywords: Financial Leasing】

 

The National Financial Regulatory Administration (NFRA) recently released the revised Measures for the Administration of Financial Leasing Companies (Exposure Draft) to solicit public comments until February 5, 2024. The main proposed revisions include improving the promotor system, enhancing supervision over business grading and classification, strengthening supervision over corporate governance, reinforcing capital and risk management, fine-tuning business operation rules, and improving the market exit mechanism.

 

Source: NFRA

 

【Shanghai】

1. Shanghai Unveils Measures to Boost Equity Investment

【Keywords: Equity Investment】

 

Shanghai Municipal People's Government recently released the Several Measures on Promoting the High-quality Development of the Equity Investment Sector in Shanghai. The document will take effect on February 1, 2024 and remain effective until January 31, 2029. It proposes 32 measures in nine aspects, as well as some policies for trial implementation.  

 

Source: Shanghai Municipal People's Government

 

2. Shanghai Revises Rules on Rewards to Science and Technology Innovation 

【Keywords: Keyword: Science and Technology】

 

Shanghai Municipal Commission of Science and Technology recently released the Decision of the Shanghai Municipal People's Government on Revising the Rules on Rewards to Science and Technology Innovation. With a total of 34 articles, the revised rules took effect on January 13, 2024. 

 

Source: Shanghai Municipal Commission of Science and Technology 

 

3. Shanghai Deepens and Expands Reform of "One Business, One Certificate"

【Keywords: One Business, One Certificate】

  

The Circular of the General Office of Shanghai Municipal People's Government on Further Deepening and Expanding the Reform of "One Business, One Certificate" was recently published. It proposes 14 measures in four aspects, including improving the industry licensing system, improving the efficiency of industry supervision, strengthening information technology support, and reinforcing safeguard measures. The Shanghai Industry Catalogue under the "One Business, One Certificate" Reform (Second Edition) was attached to the document.

 

Source: Shanghai Municipal People's Government

 

4. Shanghai Publishes Typical Cases on Special Law Enforcement Actions Against Unfair Competition

【Keywords: Anti-unfair Competition】

 

Shanghai Municipal Administration for Market Regulation published on January 9, 2024 six typical cases on special law enforcement actions against unfair competition, including three commercial confusion cases and three false advertising cases.

 

Source: Shanghai Municipal Administration for Market Regulation

 

 

One Week in Shanghai

【Latest News】

1. Shanghai Issues First Corporate "Silk Road E-commerce" Development Plan 

【Keywords: Silk Road E-commerce】

 

During the Signing Ceremony for "Silk Road E-commerce" with Partners of Greenland Global Commodity Trading Hub & the Launch Ceremony for "One Belt, One Road" Country-specific Livestreaming Platform held on January 9, 2024, Greenland unveiled Shanghai's first corporate "Silk Road E-commerce" development plan. The plan makes seven highlights, including building the country-specific livestreaming platform G-ONAIR, launching "Silk Road E-commerce" shopping malls, promoting co-construction of "one overseas warehouse and one exhibition hall", organizing "Silk Road E-commerce" overseas exhibition groups to attend important exhibitions in China, establishing the "Silk Road E-commerce" international cooperation and exchanges platform, developing youth entrepreneurship training bases, and conducting Greenland "Silk Road E-commerce" case studies. Besides, the first batch of "Silk Road e-commerce" foreign partners has reached cooperation agreements with the platform.

 

Source: Shanghai Municipal Development and Reform Commission 

 

2. Shanghai Identifies 41 Trade-oriented Headquarters and 97 Private Enterprise Headquarters

【Keywords: Trade-oriented Headquarters; Private Enterprise Headquarters】

 

Shanghai Municipal Commission of Commerce recently released the list of trade-oriented headquarters for the year 2023. It has also joined hands with the Shanghai Federation of Industry and Commerce to release the list of private enterprise headquarters. According to the lists, 41 enterprises have been identified as trade-oriented headquarters, and 97 as private enterprise headquarters. 

 

Source：Shanghai Municipal Commission of Commerce (Trade-oriented Headquarters), Shanghai Municipal Commission of Commerce (Private Enterprise Headquarters)

 

【Competitive Event】

1. Formula 1 Lenovo Chinese Grand Prix 2024 Kicks off

【Keywords:Formula 1 Races】

 

The highly-anticipated Formula 1 Lenovo Chinese Grand Prix 2024 20th Anniversary Launch Ceremony was held on January 9 at the Shanghai International Circuit. The car-racing event will be held on April 19-21. This year marks the 20th anniversary of the F1 Chinese Grand Prix and the 20th anniversary of the Shanghai International Circuit. 

 

Source：F1 Chinese Grand Prix

 

【Culture & Art】

1. East Hall of Shanghai Museum to Be Open in Three Stages 

【Keywords:East Hall of Shanghai Museum】

 

The East Hall of Shanghai Museum will open in three stages in 2024. An exhibition hall of bronze wares will open from February 2 and host a special exhibition "Stars over China - the Ancient Shu Civilization of Sanxingdui and Jinsha". About 80 percent of the total exhibition area will open to the public by the end of June, and the entire hall will open by the end of November. 

 

Source: Shanghai Museum

 

2. World Expo Museum to Host Ten Temporary Exhibitions in 2024

【Keywords:World Expo Museum】

 

The World Expo Museum will present ten temporary exhibitions in 2024 under three themes of "integrating East and West", "design art", and "touring the world". They include a Japanese cultural relics exhibition of the Royal Ontario Museum, the fifth largest museum in North America, as well as exhibitions of fiber installation art with strong visual aesthetics, public space art with contemporary expression of traditional culture, and works of overseas graphic design masters.

 

Source: World Expo Museum

 

【Corporate Activities】

1. Bayer and RTW Investments Lead in Series D Financing for JIXING Pharmaceuticals

【Keywords:Bayer; RTW】

 

Bayer and RTW Investments recently announced equity investment of US$35 million and US$127 million in JIXING Pharmaceuticals (Shanghai) Co., Ltd., respectively. Bayer and JIXING will set up a Joint Portfolio Strategy Committee to explore more potential business opportunities.

 

Source：Pudong Release

 

 

Q&A

Q1: Leaders of the National Immigration Administration answered reporters' questions at a press conference held by the State Council Information Office. In recent years, the National Immigration Administration has introduced a series of policy measures to facilitate entry and exit. What are the main considerations for the recently-launched five measures?

A1: Over the past year, the National Immigration Administration has adhered to the principles of open development, innovative development, and high-quality development, made persistent efforts to deepen immigration management reform and innovation, introduced a series of facilitation policy measures to make it easier for foreigners to come to China, and worked hard to provide efficient and convenient immigration services for foreigners working, studying, and living in China.

There are three considerations behind our decision to introduce policies to facilitate travel for foreign nationals. Firstly, China has always been committed to promoting economic globalization and building an open world economy to benefit people from all countries. In order to adapt to the trend of efficient international economic and trade exchanges, especially the liberalization and facilitation of investment and trade, immigration management agencies continue to optimize policies for the entry, exit, and stay of foreign visitors, and promote the smooth and convenient cross-border movement of people from various countries.

Secondly, the recently-concluded Central Economic Work Conference made arrangements to further expand high-standard opening up, and immigration management agencies are taking the initiative to facilitate the exchange of Chinese and foreign personnel, and pushing for a wider range, wider scope, and deeper level of opening up to the outside world. Thirdly, we are adopting a problem-oriented approach to address problems raised by foreign travelers to China. In light of the gradual increase of foreigners coming to China since the pandemic-induced travel restrictions were lifted, and complaints of some foreigners about inconvenient procedures on visa applications, immigration management agencies are working with relevant departments to address their problems during business, study or sightseeing in China, and make our contribution to promote global economic recovery.

 

Source: State Council Information Office

  

 

Expert Perspective

A Quick Look at the Highlights of the Shanghai Regulation on Advancing the Building of an International Commercial Arbitration Center

By: Gong Yiduo, Zhang Yifei (Global Law Office)

[Continuing from the Last Issue]

 

Sixth Highlight: Comprehensive Protection System

In order to enhance development environment for arbitration services, the Shanghai Regulation on Promoting the Development of an International Commercial Arbitration Center (Hereinafter referred to as the Regulation) has introduced favorable policies to support the development of arbitration services, and launched a comprehensive protection system.

 

In terms of the arrangement on responsibilities, Articles 3 and 5 of the Regulation stipulate that the municipal government shall strengthen leadership and coordination, the municipal judicial department shall be responsible for guiding, supervising and coordinating the progress, and the courts shall optimize the functions of judicial supervision and protection, thereby forming a joint force to promote the development of the International Commercial Arbitration Center.

 

In terms of financial support, Article 4 of the Regulation proposes to optimize the investment mechanism of fiscal funds, providing assistance and incentives to drive development of the arbitration industry and fund talent cultivation and institutional construction.

 

In terms of judicial support, Article 22 of the Regulation stipulates that courts should support the investigation and evidence collection by arbitration institutions. In cases where the place of arbitration and the place of evidence collection are both in Shanghai, and the parties and the arbitration tribunal face difficulties in collecting evidence, courts in Shanghai may provide support upon application of the arbitration institution.

 

Shanghai has accelerated the pace of building the city into an arbitration center in Asia Pacific, and the efforts cannot be successful without the guidance and protection of legislation. As the first local regulation issued by a provincial-level jurisdiction to promote development of arbitration services and push for development of an international arbitration center, the Regulation is running at the front, and many highlights have yet to be discussed in this article. We look forward to see even greater vitality and influence of the Regulation as it's implemented and enforced. At the same time, we believe that the promulgation and implementation of the Regulation will strengthen Shanghai's geographical and professional strengths and enhance Shanghai's cross-border arbitration service capabilities and international competitiveness.