Transportation Innovation: Shanghai and Companies

transportation innovation: The further opening-up gesture will accelerate the pace for Shanghai to become an international hub of finance, transportation and innovation, and more foreign companies are expected to be attracted to the region, said analysts and companies, according to Global Times China. It is also in line with the country's commitment of further opening-up its market amid rising protectionism in the world, experts said. Xinhua/Fang Zhe The Shanghai municipal government on Tuesday announced 30 new measures to relax investment restrictions and provide facilities for transnational corporations to establish headquarters. Shanghai relaxed the total asset requirements for parent companies of those to establish regional headquarters to 200 million from 400 million, and relaxes the requirements to 100 million for companies to establish quasi-headquarters. They also cancelled the requirement that regional headquarters must be sole proprietorships. The new regulations end the requirements for parent companies' paid-in registered capital and the number of their subsidiaries. (news.financializer.com). As reported in the news.