Further opening-up brings opportunities

SHANGHAI — The sizzling beef steaks imported from France have been greatly welcomed by customers in a Carrefour supermarket in Shanghai.

The supermarket has placed a second order for the French steaks after the product sold out in just a few weeks.

“This is a good start,” said Fanye Meng, chief representative of Inaporc & Interbev China, an association aimed at helping more French meat companies develop business in China.

China has stepped up its opening-up for imports since the first China International Import Expo in early November. Deals for intended purchases of goods and services worth a total of $57.8 billion ($8.4 billion) were reached at the first CIIE.

Currently, about 100 companies have signed up for the second expo, according to the CIIE Bureau.

In the next 15 years, China expects to import goods worth $30 trillion and services worth $10 trillion.

Attracted by Shanghai’s investment policies, open business environment and abundant talent, US engineering firm AECOM set up its Chinese management headquarters in Shanghai just one month after the CIIE.

“China’s business environment in terms of finance, logistics, communication, shipping, and technological innovation is becoming more and more promising,” said Ian Chung, chief executive for China of AECOM.

Chinese lawmakers have also called for swift adoption of a unified foreign investment law to further open the country.

During the weeklong bimonthly session, which closed on Saturday, the National People’s Congress Standing Committee deliberated on a number of newly submitted drafts, including a draft foreign investment law.

China’s business environment in terms of finance, logistics, communication ... is becoming more and more promising Ian Chung, chief executive for China of AECOM