Mr. HUANG Feng, Chairman of the Shanghai Association of Foreign Investment, was invited to speak on “The Current Economy and Future Prospects of Shanghai” to Keizai Koho Center member corporations.

Mr. Huang pointed out that the Shanghai economy is expected to recover, once the corona-virus outbreak calms down.

He also explained that at present, more than 95% of foreign investment in Shanghai is for the tertiary industry, and investment in high-tech industries in particular is increasing every year. He said that the contribution of foreign companies in terms of employment and tax revenue is very high and that the foreign companies entering the market are indispensable for the development of Shanghai’s economy.

Mr. Huang also explained that the Shanghai government is actively working to improve the business environment, including easing restrictions on foreign companies, strengthening the protection of intellectual property rights, and setting up a consultation desk for unfair acts.

In addition, he stated that the keywords in the future Shanghai market will be “digitalization,” “low-carbonization,” and “localization,” and expressed his expectations for the further success of Japanese companies while taking these factors into consideration.