Shanghai's Songjiang district has reached an agreement with the German government that will make it easier for high-tech German businesses to settle in Songjiang.

Shanghai's Songjiang district signs a cooperation agreement with the German government on May 24. [Photo provided to sh-italent.com]

The agreement will also provide extra support to Songjiang companies looking to expand in Germany, as well as create a special industry fund to boost the district's ongoing drive to upgrade its industry.

The two sides confirmed the deal on May 24 during the visit of a high-powered German delegation to Shanghai, which was headed by Peter Ramsauer, chairman of the Committee on Economic Affairs and Energy of Germany, and Peer Steinbrück, Germany's former minister of finance.