China is wooing foreign investors to bolster an economy battered by three years of strict COVID-19 controls, with local authorities leading the charge with charm offensives both at home and abroad, reports Nikkei Asia. Shanghai plans to hold more than 100 events in 2023 to attract capital from overseas. At one such conference on April 6, the city announced incentives of up to RMB 100 million ($14.5 million) for companies that invest in the city.
“Shanghai offers companies top-class services and a great environment,” Chen Jining, Communist Party chief of Shanghai, told corporate executives.
Senior officials from other cities have been traveling abroad to drum up business. Shenzhen Mayor Qin Weizhong visited Spain and Israel in March to reaffirm economic cooperation. Dalian Vice Mayor Leng Xuefeng went to Japan in February, paying visits to companies like motor maker Nidec.
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