Shanghai initiative aims to support local businesses' global ambitions

The Shanghai Municipal Human Resources and Social Security Bureau launched the Singapore session of a series of activities of "Global Fleet Voyage" on Wednesday, aimed at helping enterprises from Shanghai's Changning and Jing'an districts to go global.

This is the first attempt of "Global Fleet Voyage" — a benchmark brand to help local enterprises go global — to explore cross regional collaboration models, with Changning and Jing'an working together to leverage the industrial characteristics and resource advantages of the two districts, to jointly build a professional and international service platform for enterprises to develop in Singapore and Southeast Asian markets.

Additionally, it will explore the formation of a new model of enterprise overseas services led by municipal brands, linked by regional resources and supported by professional institutions.

Changning district, relying on the Hongqiao overseas enterprise headquarters agglomeration area, has a good foundation in the international development of service enterprises and comprehensive services for enterprises going global. Jing'an district has accumulated rich experience in human resources and enterprise globalization services.

Currently, there are nearly 7,000 foreign enterprises in Changning, and the East Hongqiao area alone owns 68 headquarters of multinational corporations. Meanwhile, in Jing'an district, there are over 6,000 foreign companies, which accounts for nearly 10 percent of the number of all companies in the district.