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China
Chinese President Xi Jinping is going to meet with Malaysian King Sultan Ibrahim Sultan Iskandar at the National Palace in Kuala Lumpur on Wednesday morning.
Xi arrived in Malaysia on Tuesday for a state visit, the second leg of his three-nation Southeast Asia tour.
Xi to meet Malaysian king in Kuala Lumpur
Since being designated a "new area" in 1990, Shanghai's Pudong has become a popular destination for foreign-invested enterprises to establish office in China, and for domestic companies to explore overseas expansion.
At present, there are 28,000 foreign-funded enterprises and branches in Pudong New Area.
HELLA Shanghai Electronics is one of international automotive parts supplier FORVIA HELLA's largest and most automated electronics factories worldwide, and its automotive electronics research and development centers in the Asia-Pacific region.
After taking root in Pudong New Area, the company has gradually expanded its research and development, production and sales business.
"The atmosphere and policy provide us with a very ideal environment to further develop business and operate," said Bai Binyi, the executive vice president of FORVIA HELLA's electronics business division in China.
At present, the construction is in full swing for an international business cooperation zone in Pudong.
The zone, coupled with the policy advantages of the comprehensive bonded zone and the customs supervision zone, will become China's first special supervision zone "within the country, but out of the jurisdiction of its customs," providing convenience such as "visa-free entry, 30-day stay, and 30-minute direct access" to global business people.
After 35 years of development and opening up, Pudong has brought together a large number of financial institutions, multinational headquarters, and international law firms to build a "global resource allocation hub."
Relying on these advantages, Pudong New Area seeks to bring in more foreign-invested enterprises and encourage more domestic companies to expand overseas, with an aim to cultivate 400 pioneering enterprises in going global and 100 foreign trade enterprise headquarters by the end of China's 15th Five-Year Plan period (2026-2030).
"We will fully align with international high-standard economic and trade rules and foster a newer and higher-level opening-up platform. We will accelerate the construction of a comprehensive service center for enterprises to go out, build a one-stop service platform for enterprises going overseas, and support various types of enterprises to rely on Pudong's comprehensive environmental advantages and institutional advantages to better expand international business and improve the global resource allocation functions," said Zheng Haiao, deputy director of the Development and Reform Commission of Shanghai Pudong New Area.
China's Pudong New Area to promote international business exchanges
