East China's business hub Shanghai will explore setting up community banks and international funds to encourage innovation and startups, said a senior city official Monday.
A trial program to test the issuance of a single, unified work permit for foreigners - replacing the current system under which two government entities have issuing authority - is expected to ease the burden of getting work in Shanghai for highly skilled expats, starting in October.
When Ford Motor Company decided to move its Asia-Pacific headquarters from Singapore to east China's Shanghai, it was told that the company's president couldn't apply for his employment permit because he was over 60 years old.
More than 1,300 start-up projects in Shanghai have obtained 260 million yuan ($39 million) in government-guaranteed loans during the first half of 2016, Pudong Times reported on Aug 16.
A brand promotion center was inaugurated at the 2016 China Brand Economy (Shanghai) Forum on July 23, as a part of the city's efforts to accelerate its brand economy development, according to local media.
Shanghai launched a youth entrepreneurship initiative on July 27 to cultivate about 200 young entrepreneurs to meet the demands of Shanghai's development, Pudong Times reported.