Efforts of "bring foreign investment in" and "expanding abroad" jointly improve Shanghai as a global trade center, according to the press conference held by Shanghai Municipal Government on Wednesday.

Shanghai is now the home to 580 regional headquarters of transnational corporations and boasts 411 foreign-invested R&D centers. Shanghai enterprises which are expanding abroad cover 178 countries and regions. Overseas investment made by China (Shanghai) Pilot Free Trade Zone (Shanghai FTZ) account for 70% of the total overseas investment of Shanghai.

Shang Yuying, head of the Shanghai Municipal Commission of Commerce, said that Shanghai will further improve the institutional innovation in the Shanghai FTZ, build the new highland for the trading system, promote the integration of investment and trade and generate the new momentum for trade growth.

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