Shanghai to submit plans to become international trade center

Departments from the Shanghai municipal government have submitted a plan to the local government on transforming the city into the "third center" for international trade, after having already established itself as an international finance center and international shipping center. The city will present the relevant documents to the State Council soon, according to the reports of China Economic Weekly Monday.

"The Shanghai municipal government has put building Shanghai into an international trade center as an important issue on the agenda this year," Sha Hailin, chairman of the Shanghai Commission of Commerce and deputy secretary-general of the Shanghai municipal government said at the end of September.

"The total value of Shanghai's imported and exported goods make up one-third of the total value of the goods trade in the whole country, and the value of service trade account for one-fifth of the total value of the national service trade, both topping the trade list of the country, so Shanghai's shaping up its position as an international trade center," Yu Hongsheng, an official with the National Development and Reform Commission was quoted as saying.

But how to expand Shanghai's influence as an international center in the world still need support from other relevant departments. After the plan is submitted to the State Council, other departments, including the Ministry of Commerce (MOC), will participate in the review of the plan and the feedback from the MOC will be critical in the success or failure of the proposal.

"Building Shanghai into an international trade center needs support from the government. The main cooperation program between the Shanghai government and the MOC includes building Shanghai into an international center,"  insiders from the Shanghai Commission of Commerce disclosed. Chen Deming, the Minister of Commerce and Han Zheng, Mayor of Shanghai signed a cooperation framework in June and listed the plan of building Shanghai into an international trade center as a priority.

The greater Hongqiao area will become a core part of the city's plan. "The Hongqiao commercial district will act as an important catalyst of the city's plan to lead the development of Shanghai's surroundings," said Sha in a forum on September 15. An administrative board was established in the Hongqiao area in accordance with this plan on August 31.

The Hongqiao commercial district will involve four districts, including Minhang, Changning, Qingpu and Jiading in the initial stage.
 

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