Issue 95

Shanghai Weekly Bulletin

No.3,May 2025

Shanghai Weekly Bulletin is an information service presented by the Foreign Affairs Office of Shanghai Municipal People’s Government in collaboration with Wolters Kluwer to foreign-funded enterprises, foreign-related institutions as well as people from overseas living in Shanghai. Covering major national and Shanghai foreign-related news, event information, policy Q&A and interpretations in the past week, it keeps you up-to-date with the latest foreign-related policies and developments in Shanghai.

 

Laws and Regulations

 

【National】

 

1.Nine Authorities Issue Guidelines to Promote High-quality Development of the Sci-tech Services Industry

【Keywords: Science and Technology Services Industry】

 

The Ministry of Industry and Information Technology (MIIT), together with eight other national ministries and commissions, recently issued the Implementation Guidelines on Accelerating the High-quality Development of the Science and Technology Services Industry. Guided by the principles of innovation-driven growth, market orientation, integrated development, systematic advancement, and a quality-first approach, the document outlines measures to strengthen service providers, optimize the development ecosystem, enhance service capabilities, and expand the scale, quality and efficiency of the industry. The initiative aims to accelerate the transformation and commercialization of sci-tech achievements, and to provide strong support for the integrated development of sci-tech and industrial innovation.

 

Source:MIIT News

 

2.Eight Authorities Unveil 23 Measures to Support Financing for Micro and Small Enterprises

【Keywords: Micro and small enterprises, Financing】

 

The National Financial Regulatory Administration (NFRA), together with seven other authorities, recently issued the Several Measures to Support Financing for Micro and Small Enterprises. The document outlines 23 initiatives across eight key areas, namely, expanding financing supply, lowering overall financing costs, improving financing efficiency, enhancing the precision of supportive measures, implementing regulatory policies, strengthening risk management, refining policy support, and ensuring effective coordination and implementation.

 

Source:NFRA

https://www.nfra.gov.cn/cn/view/pages/ItemDetail.html?docId=1210256&itemId=915

 

【Shanghai】

 

1.Shanghai Launches Six Major Initiatives to Boost Consumption

【Keywords: Consumption】

 

The General Office of the Shanghai Municipal People’s Government recently issued the Special Action Plan to Boost Consumption in Shanghai, which outlines six key initiatives along with enhanced supporting policies. The action plan is fully aligned with the national Special Action Plan to Boost Consumption.

 

Source:Shanghai Municipal People’s Government

https://www.shanghai.gov.cn/nw12344/20250521/8fe1297560be41b9b0395f6f2cd0b463.html

 

2.Shanghai to Accelerate High-quality Development of the Sci-tech Services Industry

【Keywords: Science and Technology Services Industry】

 

The General Office of the Shanghai Municipal People’s Government recently issued the Several Opinions on Further Deepening Reform and Innovation to Accelerate the High-quality Development of the Science and Technology Service Industry. The document introduces a reform package comprising 16 major initiatives and 39 specific tasks, structured around three key dimensions, namely, supply-side reform, demand-side expansion, and environmental optimization.

 

Source:Shanghai Municipal People’s Government

https://www.shanghai.gov.cn/nw12344/20250522/1cdffe7d0e214fc1a96521d9d84b618a.html

 

3.Lin-gang Releases 12 New Policies to Support Young Innovators and Entrepreneurs

【Keywords: Innovators and Entrepreneurs】

 

The 12 New Measures of Lin-gang to Attract Young Innovators and Entrepreneurs have recently been officially unveiled, marking a significant step in establishing a comprehensive “360-degree” full-cycle support system for innovation and entrepreneurship in the Lin-gang Special Area. The new policy package offers young innovators and entrepreneurs “three free services”, “six subsidies”, and “zero wait for services”. The initiative aims to build Lin-gang into a “City of Entrepreneurship and Home for Talent”, further reinforcing its identity as a “Young City for the Youth”.

 

Source:Shanghai Lin-gang

 

One Week in Shanghai

 

【Latest News】

 

1.Drug Information Association (DIA) Establishes Shanghai Representative Office

【Keywords: DIA】

 

The DIA has officially established its Shanghai Representative Office in the Qiantan Global Economic Organization Cluster. The new office aims to serve as a unique platform for international exchange and cooperation, contributing to the advancement of pharmaceutical research and development as well as the modernization of regulatory practices in China.

 

Source:Pudong Release

 

2.Policy Compendium of Shanghai Business Environment Action Plan 8.0 Released Online

【Keywords: Business environment】

 

The Policy Compendium of Shanghai Business Environment Action Plan 8.0 has recently been launched online. The compendium provides easy and fast access to the Action Plan 8.0, related documents from various municipal departments and districts, as well as infographics, video briefings, and media coverage.

 

Source:Shanghai Development and Reform

 

【Competitive Event】

 

1.2025 Shanghai International Public Service Advertising Competition Officially Launched

【Keywords: Shanghai International Public Service Advertising Competition】

 

On May 20, the 2025 Shanghai International Public Service Advertising Competition was officially launched. Centered around the annual theme Tolerance and Diversity, Boundless Creativity for Good, the competition is open to global submissions. It features three main thematic categories — Beautiful World, Cultural China, and People’s City, each further divided into Print, Long Audio/Video, and Short Audio/Video groups.

 

Source:Shanghai Municipal Administration for Market Regulation

 

【Culture & Art】

 

1.2025 Diamond and Gems Cultural Festival Officially Kicks Off

【Keywords: Diamond and Gems Cultural Festival】

 

The launch ceremony for the 2025 Diamond and Gems Cultural Festival was recently held alongside the Promotion Conference for Investment in the Shanghai International Jewelry Fashion Functional Zone. Centered around the dual themes of “Promoting Consumption and Showcasing Culture”, this year’s festival features a diverse range of activities, including exhibitions, promotional sales events, brand debuts, and professional services.

 

Source:Shanghai Huangpu

 

2.“China’s Dinosaur World” Ready for Public May 31

【Keywords: Dinosaurs】

On May 26, the Exhibition China’s Dinosaur World grandly opened at the Shanghai Natural History Museum (a branch of the Shanghai Science and Technology Museum). Following a four-day trial run, the exhibition will officially open to the public on May 31. The exhibition brings together 118 dinosaur specimens and major models from 12 museums and research institutions.

 

Source: International Services Shanghai

https://english.shanghai.gov.cn/en-ArtExhibitions/20250520/b2214297418f47f08e5a8198de10aad9.html

 

3.In Harmony with Floral Beauty — Ma Xiaojuan’s Painting Exhibition Opens

【Keywords: Ma Xiaojuan】

From May 24 to June 22, the In Harmony with Floral Beauty — Ma Xiaojuan’s Painting Exhibition, part of the Shanghai Masters Research Series, is being held at the Cheng Shifa Art Museum. The exhibition showcases over 100 representative artworks by renowned artist Ma Xiaojuan, featuring ink figure paintings that span a rich variety of themes including modern urban life, ethnic minorities, and classical literature. The artworks are presented in five sections: Urban Elegance, Chapters of the Times, Clouds on the Horizon, Contemporary Blossoms, and Stories from the Classics.

 

Source:Shanghai Tourism

 

4.Jorge Rando’s Solo Exhibition “Quiero Pintar La Vida” Opens in Shanghai

【Keywords: Jorge Rando】

From May 24 to August 22, the Shanghai Jiushi Art Museum is presenting Quiero Pintar La Vida, a solo exhibition by Jorge Rando, a pivotal figure of Spanish Neo-Expressionism. This marks Jorge Rando’s largest solo exhibition in Asia to date, showcasing 114 works from the Museum Jorge Rando in Spain as well as private collections, including oil paintings, watercolors, and mixed media works.

 

Source:Shanghai Jiushi Art Museum

 

【Corporate Activities】

 

1.CapitaLand Investment Launches First Onshore RMB Master Fund in China in Partnership with Leading Domestic Insurer

【Keywords: CapitaLand Investment】

 

On May 21, global real asset manager CapitaLand Investment officially established its first onshore RMB-denominated master fund in China — the CapitaLand Investment RMB Master Fund — with a total committed capital of RMB 5 billion. The fund has attracted a leading domestic insurance company as its primary investor. The fund is expected to contribute RMB 20 billion to CapitaLand Investment’s funds under management when full deployed.

 

Source:Shanghai Finance

 

Q&A

 

Q:At a recent press conference hosted by the Information Office of the Shanghai Municipal People’s Government on the Several Opinions on Further Deepening Reform and Innovation to Accelerate the High-quality Development of the Science and Technology Service Industry, a representative from the Pudong New Area Commission of Science, Technology and Economy responded to media questions — Pudong New Area is the core area of Shanghai’s drive to become an international science and technology innovation center. What is the current development status of the sci-tech services industry in Pudong, as well as the next steps following the release of the Several Opinions?

A: With joint efforts across various sectors, Pudong New Area has witnessed steady and robust growth in its sci-tech services industry, highlighted in three key areas:

First, the scale, quality, and efficiency of the sci-tech services sector have seen a comprehensive uplift. Total revenue increased from RMB 101.7 billion in 2021 to RMB 147.2 billion in 2024, marking a 45% growth over three years. The added value of the sector has accounted for a growing share of GDP, reaching 5.5% in the first quarter of this year and contributing 0.6 percentage points to overall GDP growth.

Second, the concentration of scientific and technological resources is accelerating. A total of 14 major scientific facilities are either completed, under construction or in the planning stage. A number of basic research institutions — such as the Tsung-Dao Lee Institute and the Shanghai Zhangjiang Institute for Advanced Study in Mathematics — have been established. The area is also home to 7 high-quality incubators, 202 innovation-oriented incubators, 9 technology accelerators, and 107 group open innovation centers, forming a comprehensive support system that serves enterprises throughout their entire life cycle.

Third, there is deeper integration between scientific innovation and industrial development. A range of initiatives have been introduced — such as the National Natural Science Foundation’s Joint Fund for Regional Innovation and Development, group open innovation centers, high-quality incubators, and a science bounty system — to comprehensively support industrial growth. Notably, efforts have been made to promote the global expansion of Pudong’s innovative pharmaceuticals, with strong support for sci-tech service enterprises such as HUTCHMED and LaNova Medicines to enhance their capabilities and establish globally-oriented, nationally-leading innovation service brands.

The release of the Several Opinions has provided clear direction and a roadmap for the development of the sci-tech services sector. Moving forward, under the guidance of municipal authorities, Pudong New Area will adhere to a chain-based development approach that emphasizes “original innovation – commercialization – ecosystem development”, with the aim of accelerating the high-quality growth of the sci-tech services sector and advancing the development of the core area of the international science and technology innovation center.

First, we will enhance the future-oriented capacity for original innovation. While continuing to support the development of national laboratories and major scientific infrastructure, Pudong will further promote the open and shared use of large-scale scientific platforms by corporate users. Efforts will also be made to increase public investment in science and technology, explore the establishment of a Pudong Natural Science Fund, and introduce joint funding mechanisms involving enterprises to attract greater participation from social capital in driving technological innovation.

Second, we will enhance global appeal in innovation commercialization. Pudong will strengthen the development of public sci-tech service platforms in cutting-edge fields such as embodied robotics, synthetic biology, and satellite internet. Greater efforts will be made to connect universities and research institutes with local incubators, group open innovation centers, and specialized industrial parks, fostering coordinated innovation across the industrial chain and boosting overall industry competitiveness.

Third, we will enhance the openness and synergy of the innovation ecosystem. Pudong will establish a multi-tiered incubation system by accelerating the development of high-quality, specialized, and future-oriented incubators. A full-lifecycle, diversified, and relay-style financial service system will be further refined. We have intensified the efforts to attract and cultivate tech talent. Just recently, Pudong introduced a set of measures to support young talent in innovation and entrepreneurship. The initiative includes 1 million square meters of low-rent apartments and another 1 million square meters of subsidized startup space. In addition, Pudong will step up efforts to foster leading enterprises, unicorns, and specialized, sophisticated, distinctive, and innovative companies, aiming to expand the base of high-growth tech enterprises.

 

Source:Shanghai Release

 

 

Expert Perspective

 

Equity Investment in the IDC Sector: Industry Overview, Foreign Investment Access and Compliance Pathways

 

By Zhang Zhewen (AnJie Broad Law Firm)

 

[Continued from the Previous Issue]

II. Business Licenses and Industry Access Regulations

1. IDC License

According to the Telecommunications Regulations and the Administrative Measures for the Licensing of Telecommunications Business Operations, an IDC operator intending to engage in IDC business must obtain a “Value-added Telecommunications Business Operating License” (IDC License) that covers its operational region and business scope. For applications concerning a provincial IDC license, the application should be submitted to, and approved by, the telecommunications administration of the respective province, autonomous region, or municipality directly under the central government. For cross-provincial or nationwide operations, applications must be submitted to the Telecommunications Administration of the MIIT, and approved by the MIIT. Applicants seeking to operate IDC services must meet the following criteria:

· Be a legally established company;

· Possess capital and professional personnel commensurate with the scope of telecommunications services to be provided;

· Demonstrate credibility or capability to provide long-term services to users;

· For businesses operating within a single province, autonomous region, or municipality directly under the central government, the minimum registered capital shall be RMB 1 million. For those operating nationwide or across multiple provinces, autonomous regions, or municipalities directly under the central government, the minimum registered capital shall be RMB 10 million;

· Possess the necessary premises, facilities, and technical solutions;

· Have no record of violations of telecommunications supervision regulations by the company, its major investors, or key management personnel within the past three years; and

· Fulfill other conditions as stipulated by the state.

If the operator undergoes a change of business entity due to company merger, division, or shareholder change after obtaining the IDC license, and the new entity continues to meet the application requirements stated above, the IDC licensed company must update the shareholder information in the “Enterprise Basic Information” section of the Integrated Telecommunications Business Market Management Information System within 30 days after completing the relevant industrial and commercial registration procedures. However, it should be noted that if the shareholder changes involve direct or indirect foreign ownership (requiring penetration and tracing), provided that the foreign shareholder meets the IDC business application requirements (detailed in Part III of this article), the company is required to reapply for the IDC license.

Any companies licensed to operate telecommunications services may, upon approval from the licensing authority, authorize any of its subsidiary — provided it holds no less than 51% of the subsidiary’s shares and the subsidiary meets the relevant operational requirements — to engage in the approved telecommunications business. However, no more than one subsidiary may be authorized to operate the same type of telecommunications service within the same region.

[To be Continued]