Laws and Regulations

 

National

 

1.China Enhances the Cultivation of Innovative Enterprises for Digital-economy

[Keywords: Innovative enterprises for digital-economy]

 

Recently, the National Development and Reform Commission (NDRC), together with five other authorities, issued the Several Measures on Strengthening the Cultivation of  Innovative Enterprises for Digital-economy. The document sets out ten actions, including establishing a robust source-discovery mechanism for such enterprises, strengthening multidimensional data support, bolstering the supply of computing-power resources, and enhancing original innovation capacity.

 

Source: NDRC

 

2. Three Authorities Further Support Overseas Institutional Investors’ Bond Repo Business in China’s Bond Market

[Keywords: Overseas institutional investors, Bond repurchase]

 

Recently, the People’s Bank of China, the China Securities Regulatory Commission (CSRC), and the State Administration of Foreign Exchange jointly issued an announcement to further support overseas institutional investors eligible for cash bond trading in China’s bond market in conducting bond repurchase (repo) business. The announcement took effect upon release.

 

 Source: CSRC Release

 

3. Amendment to the Regulations of the People’s Republic of China on International Maritime Transport

[Keywords: International maritime transport]

 

Recently, the Decision of the State Council on Amending the Regulations of the People’s Republic of China on International Maritime Transport was promulgated, further refining the regulatory framework for the international maritime transport sector. The document took effect upon promulgation.

 

Source: Website of the Chinese Government

 

4. Supreme People’s Court Invites Public Comments on Draft Interpretation of the Company Law

[Keywords: Company Law]

 

On September 30, the Interpretation of the Supreme People’s Court on Several Issues Concerning the Application of the Company Law of the People’s Republic of China (Draft for Comment) was released for public consultation. The document covers general provisions, shareholders’ capital contributions and related liabilities, nominee shareholding, and the protection of investors’ rights and interests, among other matters. The closing date to submit feedback is October 20.

 

Source: Supreme People’s Court

 

Shanghai

 

1. Implementation Measures for Shanghai’s Global Partners Program to Promote Foreign Investment (2025 Revision) Issued

[Keywords: Foreign investment, Global partners]

 

Recently, the Shanghai Municipal Commission of Commerce issued the Implementation Measures for Shanghai’s Global Partners Program to Promote Foreign Investment (2025 Revision), setting out five supporting measures to further attract and serve foreign investors.

 

Source: Shanghai Municipal Commission of Commerce

https://sww.sh.gov.cn/zwgkgfqtzcwj/20250929/6d404b9d9f504701b301a883a2e8b65f.html

 

2. Two Authorities Issue Measures to Advance Offshore Bonds in the Shanghai Pilot FTZ

[Keywords: Pilot FTZ, Offshore bonds]

 

Recently, the Financial Commission Office of the CPC Shanghai Municipal Committee and the Shanghai Head Office of the People’s Bank of China jointly issued the Several Measures (Trial Implementation) on Further Advancing the High-quality Development of Offshore Bonds in the Shanghai Pilot Free Trade Zone. The document clarifies that investment entities may choose to invest via proprietary accounts or nominee holding accounts, and may open segregated sub-accounts under nominee holding accounts. Nominee holding accounts and proprietary accounts are kept strictly segregated.

 

Source: Shanghai Finance

 

3. Shanghai Strengthens Commercial Brand Development

[Keywords: Brand development]

 

Recently, the Shanghai Municipal Commission of Commerce, together with six other authorities, issued the Action Plan on Strengthening Shanghai’s Commercial Brand Development. The document sets out 20 concrete measures across five pillars, namely, tiered brand cultivation, standards-driven excellence, value enhancement, global expansion, and ecosystem optimization.

 

Source: Shanghai Municipal Commission of Commerce

https://sww.sh.gov.cn/zwgkgfqtzcwj/20250928/69a22ba707734fad9b26a3b01e9d771f.html

 

4. Several Measures to Support the High-quality Development of Offshore Trade in the Lingang Special Area Released

[Keywords: Offshore trade]

 

Recently, the Management Committee of the Lingang Special Area issued the Several Measures to Support the High-quality Development of Offshore Trade in the Lingang Special Area of China (Shanghai) Pilot Free Trade Zone. The document introduces eight supporting initiatives focused on fostering industrial clustering in offshore trade, enhancing financial service capabilities, and advancing digitalization in offshore trade. The document took effect upon release and will remain valid through December 31, 2028.

 

Source: Shanghai Lingang

 

Q&A

 

At the press conference for the 37th session of the International Business Leaders’ Advisory Council (IBLAC) for the Mayor of Shanghai, Mayor Gong Zheng responded to a question: 

Q

“Given the complex and tense global trade environment and the continued China–US tariff frictions, how will Shanghai address uncertainties, bolster the confidence of foreign investors to deepen their presence in China, and safeguard the development of foreign enterprises?”

A

Foreign-funded enterprises are a vital force underpinning Shanghai’s economic and social development. At present, nearly 80,000 foreign-funded enterprises operate across all sectors in the city and continue to show strong momentum. Despite recent international volatility, several encouraging trends have emerged in Shanghai’s foreign investment landscape: (1) the number of newly established foreign-funded enterprises remains high, with more than 4,000 established since the beginning of this year, bringing the total number to nearly 80,000; (2) the number of foreign-funded R&D centers continue to expand, with 627 recognized to date; and (3) regional headquarters of multinational companies are clustering in Shanghai at a steady pace, with a total of 1,055 recognized so far. Going forward, we will do our utmost to provide greater certainty for the development of foreign enterprises and help them gain a competitive edge globally. We will focus on advancing work in four key areas: 

First, we will continue to stimulate effective demand. This is pivotal to driving economic growth. Only when the economy rebounds and improves can expectations stabilize and confidence strengthen. Last year, Shanghai’s GDP grew by 5% year on year to RMB 5.39 trillion, remaining No. 1 among Chinese cities and rising to fifth among global cities. In the first half of this year, GDP expanded by 5.1% year on year, and we are confident of achieving full-year growth of around 5%. We will thoroughly implement the strategy of expanding domestic demand by further boosting services consumption, big-ticket items spending, and inbound consumption, and by promoting deeper integration of culture, tourism, commerce, sports and exhibitions. We will accelerate a number of major projects in infrastructure, science and technology industries, modern services, and public well-being. We will also actively expand international market demand, support foreign trade enterprises in exploring diversified markets, and foster new business forms and models such as offshore trade and digital trade.

Second, we will steadily expand high-standard, rules-based opening up. Openness is Shanghai’s greatest strength. In recent years, we have implemented the 80 tasks of the Overall Program for Comprehensively Keeping Pace with the High-standard International Trade Rules and Implementing a High-level Institutionalized Opening-up Policy in the China (Shanghai) Pilot Free Trade Zone — fully lifted foreign investment restrictions in manufacturing, and deepened the comprehensive pilot for opening up the services sector, achieving new progress in areas such as new-energy vehicles, value-added telecommunications, biotechnology, wholly foreign-owned hospitals, and cultural and entertainment services. We will align with high-standard international economic and trade rules and further enhance the functional level of key areas — including the Pudong Pioneering Area, the Pudong Pilot Free Trade Zone, the Lingang Special Area, the Hongqiao International Open Hub, and the Shanghai Eastern Hub International Business Cooperation Zone. We will work toward greater connectivity and compatibility in rules, regulations, administration, and standards — covering property rights protection, environmental benchmarks, and government procurement — so as to better leverage Shanghai’s role as a testing ground for reform and opening up.

Third, we will make every effort to uphold fair and orderly market competition. Fairness is the bedrock of a market economy. In recent years, we have continued to foster a world-class, market-oriented, law-based and internationalized business environment, applying laws and policies equally to all enterprises and fully guaranteeing national treatment for foreign-funded enterprises. We will accelerate efforts to help build a unified national market, take the lead in implementing the national negative list for market access, deepen information sharing and intergovernmental connectivity with Yangtze River Delta cities, and actively advance unification in basic market institutions, standards of government conduct, and market regulation and enforcement. Furthermore, we will effectively safeguard the lawful rights and interests of foreign-funded enterprises, ensure fairness and impartiality in access to factors of production, qualification licensing, standards setting, and government procurement, and support foreign-funded enterprises in participating in upstream and downstream collaboration across industrial chains.

Fourth, we will continue to strengthen high-quality and efficient service and support. Only when government services are warm and responsive can enterprises grow with confidence. We place serving all types of enterprises, including foreign-funded enterprises, in a prominent position: convening government–business roundtables and policy matchmaking sessions; establishing a special working group mechanism for key foreign-invested projects and a specialist service mechanism for key foreign-funded enterprises; and thoroughly implementing the “service package” mechanism for key enterprises so that issues raised by businesses are addressed promptly and effectively. Moreover, we will further enhance government–business communication, collect demands through multiple channels — such as foreign chambers of commerce in Shanghai and the Enterprise Service Cloud — and improve rapid-response mechanisms to ensure that every matter receives a reply. Meanwhile, we will continue to upgrade the International Services Shanghai portal, expand the scope of “no-application, immediate access” and “direct and fast access” services, and make it even more convenient for foreign-funded enterprises to handle matters in Shanghai.

We are confident that, through our joint efforts, Shanghai has been, is, and will remain one of the top destinations for foreign investment and a preferred location for multinational companies to deploy their global industrial and supply chains. We encourage foreign-funded enterprises to stay confident, invest with assurance, operate with focus, and share in the opportunities of Shanghai’s development.

 

Source: Shanghai Release

 

Expert Perspective

 

A Quick Comment on the 2025 Arbitration Law — Steady Progress with Promising Prospects

 

By He Junming (Shanghai United Law Firm)

 

[Continued from the Previous Issue]

(I)Comprehensive Enhancement of the Internationalization of China’s Commercial Arbitration System

3.

The 2025 Arbitration Law explicitly supports international exchange in arbitration sector and global outreach of Chinese arbitration institutions, striving to strengthen China’s voice in the international arbitration arena.

Article 12 of the 2025 Arbitration Law affirms China’s supportive stance on enhancing international engagement and discourse power for arbitration institutions, while Article 86 sets out concrete measures to enable Chinese arbitration institutions to “go global” and strengthen their voice in international arbitration. The amendments to the Arbitration Law have not come as a surprise to most practitioners in the sector. In fact, prior to this round of amendments, localities across China had already piloted and issued a host of policy documents that substantively support international exchange in the arbitration sector and the global outreach of Chinese arbitration institutions. For example, on March 4, 2024, the Shanghai Municipal Bureau of Justice and the Shanghai Municipal Commission of Commerce issued the Action Plan on Further Strengthening Capacity Building and Accelerating the Development of World-class Arbitration Institutions, which emphasizes, among other points: 

“Accelerate the layout of overseas services. Support arbitration institutions in establishing branches or offices overseas, improve overseas service networks, expand international arbitration businesses, and enhance services for foreign-related arbitration. (Lead authorities: Shanghai Municipal Bureau of Justice, Shanghai Municipal Development and Reform Commission, Shanghai Municipal Commission of Commerce)”

“Support arbitration institutions in establishing cooperation mechanisms with renowned overseas arbitration and dispute resolution bodies and with international organizations in law, economy and trade, and shipping, to promote information sharing on arbitration, joint research, mutual promotion, expert exchanges, and shared use of facilities. Encourage arbitration institutions to organize or participate in international exchanges and seminars on arbitration, and to take an active part in the formulation of international commercial dispute resolution rules, standards, and mechanisms. Explore the optimization of foreign affairs management mechanisms for arbitration institutions to strengthen international engagement capabilities. Support arbitration institutions in joining municipal economic and trade delegations abroad to step up global promotion of Shanghai’s arbitration services. (Lead authorities: Shanghai Municipal Bureau of Justice, Shanghai Municipal Commission of Commerce, Shanghai Municipal Transportation Commission, Foreign Affair Office of Shanghai People’s Government)”

Against this backdrop, the Shanghai International Arbitration Center and the Shanghai Arbitration Commission established, in May 2024 and April 2025 respectively, the Shanghai International Arbitration (Hong Kong) Centre in the Hong Kong Special Administrative Region and the SHAC European Hub in Málaga, Spain, and have achieved initial results.

Hence, the amendments to the Arbitration Law can be viewed as state-level endorsement and further encouragement of the practical experience and achievements garnered through local pilot efforts to advance the global outreach of Chinese arbitration institutions.

[To be Continued]

 

One Week in Shanghai

 

Latest News

 

1. The 37th session of the International Business Leaders’ Advisory Council for the Mayor of Shanghai Convened

[Keywords: International Business Leaders’ Advisory Council for the Mayor of Shanghai]

 

The 37th session of the International Business Leaders’ Advisory Council for the Mayor of Shanghai (IBLAC) was held on October 12. Forty-five leading global entrepreneurs from 17 countries gathered at the “World Meeting Room”, offering distinctive perspectives and in-depth insights under the theme “Openness, Innovation and Inclusiveness — Shanghai’s Development Strategy toward 2030”. Their contributions will help Shanghai better chart its urban development strategy and sustain high-quality growth.

 

Source: Shanghai Release

 

2. 2025 Presentation Ceremony of “Honorary Citizen of Shanghai” and “Magnolia Gold Award” Held

[Keywords: Honorary Citizen of Shanghai, Magnolia Gold Award]

 

The 2025 Presentation Ceremony of the “Honorary Citizen of Shanghai” and the “Magnolia Gold Award” was held on September 29. Danish national Simon Lichtenberg and Swiss national Severin Schwan were awarded “Honorary Citizen of Shanghai”, while 28 individuals — including French national Eric Cornuel — were awarded the “Magnolia Gold Award”.

 

Source: International Services Shanghai

https://english.shanghai.gov.cn/en-HonoraryCitizenshipMagnoliaGold/20250929/0fc9be3ef5e648aaa61106d4940b8f73.html 

 

3. Shanghai Ranks No. 1 Nationwide on Multiple Holiday Tourism Lists

[Keywords: Shanghai, Tourism]

 

According to Shanghai tourism big-data monitoring, the city received 25.485 million tourist trips during the National Day and Mid-Autumn Festival holiday, a year-on-year increase of 19.74%. Aggregated data from major travel platforms show that Shanghai was among the most popular domestic destinations during the long holiday, the top choice for foreign visitors, and ranked No. 1 on “must-eat” city lists.

 

Source: Shanghai Release

 

4. “Shanghai: City of Momentum” — City Image Film for the 8th CIIE Released

[Keywords: Shanghai · City of Momentum, CIIE]

With 30 days to go before the 8th China International Import Expo (CIIE), the Information Office of the Shanghai Municipal People’s Government released the city image film “Shanghai : City of Momentum”.

 

Source: Shanghai Release

 

5. The 36th Shanghai Tourism Festival Concludes over the National Day Holiday

[Keywords: Shanghai Tourism Festival]

 

On October 6, the 36th Shanghai Tourism Festival drew to a close after a 93-day run. For the first time, the festival adopted a long-cycle “one festival, two seasons” format — combining a Summer Travel Season with a Classic Events Season — and expanded its offerings to 500 activities. During the Summer Travel Season, Shanghai received 96.9837 million tourist trips, up 1.54% year on year. Total all-factor tourism consumption in the city reached RMB 160.8 billion, an increase of 10.6% year on year.

 

Source: Shanghai Tourism

 

Corporate Activities

 

1. Schneider Electric’s EcoFit™ Low-voltage Power Distribution China Innovation Center Launched in Shanghai

[Keywords: Schneider Electric]

 

Recently, drawing on its extensive experience in modernization and upgrades of power distribution systems, Schneider Electric announced the official launch of the EcoFit™ Low-voltage Power Distribution China Innovation Center in Shanghai. Following the unveiling of the EcoFit™ Industrial Automation Retrofit Center in May this year, this marks another key milestone under Schneider Electric’s 2025 “China Hub” strategy. The new center will further advance digital innovation in high-value services and deepen collaboration in local research and development.

 

Source: Schneider Electric

 

Competitive Event

 

1. The 17th Shanghai International Popular Sports Festival to Kick Off on October 18

[Keywords: Shanghai International Popular Sports Festival]

 

From October 18 to 19, the 17th Shanghai International Popular Sports Festival will kick off with great energy in the Lingang Special Area. In addition to four marquee events — the lakeside health run (10 km/5 km), group workouts, Shanghai Youth Alpine Skiing Championships, and Valorant Mobile Tournament — the festival will also launch three themed experience packages, namely, “Starry Seas”, “Romance by the Lake and Sea”, and “Play Hard in Lingang”.

 

Source: International Services Shanghai

https://english.shanghai.gov.cn/en-Events/20250908/8ccac3d6d55c4c3d8ee5891357b5bd35.html

 

2. 2025 Tour of Chongming Island — UCI Women’s WorldTour to Start in October

[Keywords: Tour of Chongming Island — UCI Women’s WorldTour]

 

From October 14 to 16, the 2025 Tour of Chongming Island — UCI Women’s WorldTour will be held in Shanghai’s Chongming District. This year’s race has attracted 18 top teams from around the world, including five Women’s WorldTour teams, two women’s professional teams, and 11 women’s continental teams. A total of 108 elite cyclists will gather in Chongming for three days of high-level competition.

 

Source: Shanghai Release

 

Forum & Exhibition

 

1. 2025 ESG Global Leaders Conference to Convene in Shanghai

[Keywords: ESG Global Leaders Conference]

From October 16 to 18, the 2025 ESG Global Leaders Conference will be held at the World Expo Park in Huangpu, Shanghai. Centered on the theme “Joining Hands to Address Challenges: Global Action, Innovation and Sustainable Growth”, the Conference will cover more than 50 topics and plans to invite 500 distinguished guests from China and abroad. Concurrent events will include the Green Industry & Sustainable Consumption Expo and the “Best Sustainability Practice” Achievement Exhibition.

 

Source: Shanghai Huangpu

 

Culture & Art

 

1. The 24th China Shanghai International Arts Festival Set to Open

[Keywords: China Shanghai International Arts Festival]

The 24th China Shanghai International Arts Festival (CSIAF) will be held from October 17 to November 27. Upholding the vision of “A Festival of Arts, a Gala for All”, this year’s edition features eight program areas — including stage performances, international dialogues, the International Performing Arts Fair, community-focused art events, and citywide collaborations — with more than 500 performances and exhibitions, totaling over 1,200 events.

 

Source: International Services Shanghai

https://english.shanghai.gov.cn/en-Events/20250925/13e2879b7e0a48bb88ed8253387be420.html

 

2. World Heritage Yungang Grottoes “Land” in Shanghai

[Keywords: Yungang Grottoes]

 

The “Gazing Over the Clouds and Sea — the Yungang Grottoes Art Exhibition” opened grandly in Shanghai recently. Anchored in rigorous scholarship, the exhibition highlights the culture, artistry, and contemporary activation of the Yungang Grottoes, bringing together Yungang cultural relics, a 3D-restored cave, contemporary artworks, VR interactive experiences, and a 30-minute original digital art presentation. Leveraging diverse media — from laser projection to contemporary art — the exhibition presents the full journey of the Yungang Grottoes from their excavation and preservation to their creative revitalization today.

 

Source: Shanghai Tourism