Shanghai Issues Regulations on Promoting Development of Hongqiao International Central Business District

On October 31, 2022, Shanghai released the Regulations on Promoting the Development of Hongqiao International Central Business District, which will come into effect on November 1, 2022.

The Regulations consist of nine chapters with sixty-nine articles. The Regulations encourage all kinds of investors to set up regional headquarters and functional institutions of multinational companies in the business zone, clarify that qualified enterprises can open free trade accounts and carry out new types of international trade in accordance with the law, and will promote accounts receivable notes in the business zone. The Regulations also provide for financial, transportation and talent elements.