A domestic tech firm established by a foreign citizen holding China’s permanent residence has launched its business in Hongqiao International Open Hub, which is treated the same as Chinese companies. 

Hongqiao Business District started to grant foreign citizens with China’s permanent residence to set up domestic firms in the district in September as an effort to replicate and promote Pudong’s success since the policy was initiated in Pudong New Area. 

Hence, a business license was issued to Shanghai Taixin Biotechnology Co, Ltd on December 20.

Foreign investors remain confident in the business environment of Shanghai, which is known for its international ambience, according to participants at the 2021 Changning International Investment Promotion Meeting.

Over 70,000 expats live in Changning, accounting for more than 20 percent of the city’s total overseas population.

Changning is seizing the strategic opportunities of “Hongqiao International Open Hub construction” and “urban digital transformation” and injecting strong power into the high-quality development of regional economy with the empowerment of “Hongqiao Brand.”

Editor：Li Xinran Shanghai Daily