On site of the two sessions|What suggestions did the members make about the construction of Shanghai’s “five centers”聚焦

How does Shanghai attract foreign investment, promote technological innovation, cultivate emerging industry leading enterprises, and promote biological medicine innovation?

On the morning of January 16th, the 14th Session of the Shanghai Political Consultative Conference held a special meeting with the theme of “focusing on the important mission of building the ‘Five Centers’, further deepening reforms in an all-round way, and striving to create a new situation for Shanghai’s modernization construction.” During the nearly three-hour special meeting, several members of the Municipal Political Consultative Conference provided suggestions in several key areas including investment promotion, technological innovation, and biological medicine.

Shanghai Municipal Party Committee Secretary Chen Jining pointed out during the meeting that building the “Five Centers” is an important mission entrusted to Shanghai by the Party Central Committee with Comrade Xi Jinping as the core. It is necessary to thoroughly study and implement the spirit of the Twenty-third Plenary Session of the Party Central Committee and General Secretary Xi Jinping’s inspection speech in Shanghai, better shoulder responsibilities, actively take initiatives, continuously strengthen the overall effect, platform effect, amplification effect, and radiation effect of the “Five Centers”, continuously improve the city’s energy level and core competitiveness, better test the system for the country, explore new paths, and better serve the overall situation of national reform and development.

For attracting foreign investment, Li Ling, a member of the Shanghai Political Consultative Conference Committee and CEO of CBRE in China stated that her company is one of the first batch of partners promoting foreign investment in Shanghai. “In our service to foreign-funded enterprises, we clearly feel their confidence in developing long-term in China. China’s huge market potential and world-leading supply chain efficiency are highly attractive to foreign-funded enterprises.”

Regarding high-tech manufacturing projects, talent, industrial ecology, and the overall business environment are very important. This has been repeatedly emphasized by clients in their location selection services for advanced manufacturing and R&D projects such as automobiles and electronics, and it is also Shanghai’s competitive advantage in attracting foreign investment. Li Ling suggested that Shanghai should establish various special support schemes such as equipment subsidies, rent subsidies, and talent subsidies for major high-quality projects, especially industry-leading enterprise projects. In addition, it is necessary to further increase the intensity of talent introduction in key industries, especially in providing more convenient policies in terms of medical care and education.

Zhang Jinquan, another member of the Political Consultative Conference of Shanghai proposed the establishment of intermediary agencies for investment promotion. He consulted professional institutions such as investment banks, accounting firms, law firms, as well as domestic and foreign enterprises. The中介机构的中介作用 in investment promotion is significant, and professional institutions have strong professional advantages with stable and extensive customer resources. Moreover, these institutions maintain long-term strategic service relationships with enterprises and have high trust from them. In addition, they also possess international branch network resources and business resource integration capabilities.

Zhang Jinquan suggested establishing a Shanghai intermediary institution business service center to leverage the customer network resources of intermediary institutions. Through analysis of customer big data and investment orientation, it can precisely match with government based on its policies and needs to improve efficiency in attracting investment. At the same time, it should fully leverage the cross-border service capabilities of intermediary institutions to establish a reverse investment promotion model.

Regarding technological innovation, Han Hanjun emphasized its importance in today’s society where technological progress plays an increasingly significant role in economic and social development. He suggested increasing reform efforts in terms of management and investment decision-making mechanisms for state-owned enterprises to improve their adaptability to existing investment project assessment mechanisms while also improving collaborative research and development platforms between state-owned enterprises and private enterprises to support distributed research on large scientific research projects. By strengthening capital-technology innovation integration through major technological innovation cooperation and important technology resource sharing, the positive external effects of collaborative innovation can be fully leveraged to enhance not only state-owned enterprises’ innovation capabilities but also alleviate the urgent need for insufficient innovation resources among private enterprises.

Qian Jun also noted that more attention should be paid to the integration of technology finance and commercialization. Although our country attaches great importance to early-stage investments, there are risks and uncertainties associated with investing in early-stage tech companies. Moreover, there is also a lack of talent capable of assessing the commercial value of tech projects as well as management talent for tech companies. Therefore, Qian Jun suggested that universities should cultivate more technical managers who understand finance while also providing a batch of competent talents for tech companies through on-the-job training.

Biological medicine is one of Shanghai’s three leading industries. Zhang Yi pointed out that there are still problems such as insufficient basic research innovation in high-complexity frontier areas such as cell therapy, regenerative medicine, synthetic biology. He suggested that Shanghai should further carry out policy innovation and reforms for innovative frontier biological medicine projects to accelerate their alignment with international standards and implement innovative measures on a trial basis in free trade zones or

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