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Shanghai Open Up More Service Industry, Allowed More Wholly Foreign-Owned Company

8/14/2019

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Tourists at the Bund area of Shanghai. [Photo by Wang Gang/For China Daily]
Source: Shanghai Daily

Shanghai municipal government has announced a total of 40 policies to further open up the city's service industry, in the hope of creating a comprehensive round of opening-up of Shanghai and further enhancing the city's competitiveness in the international market.
​Another eight policies have been introduced to relax the limits for foreign service providers, including lowering the capital requirement for setting up investment companies in Shanghai and allowing the establishment of wholly foreign-owned performance agencies and travel agencies.

The foreign investment company: now require $ 0.2 billions USD capital (previously $ 0.4 billions USD)
Allowed wholly foreign-owned company: Art Performance Agency, Travel Agency, Auction Company (in Free Trade Zone)
Other: encouraging Foreign Investment in medical and healthcare industries, allowed foreign investment in Music and Video product in specific zone, improving Cruise Traveling Business, support more Tax Refund for foreign visitors (when leaving), accelerate Sport Event business (to build “capital” of sports event), develop more global, branding and professional exhibition services, promote tax refund for services trading.

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Japan's House Foods Group is Expanding its curry business in China

8/12/2019

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Vermont Curry, House Foods' main product in China
Source: Nikkei

June.2019
​House Food Group, A leading food company from Japan plans to release large, eight-serving packages of curry roux this fall in a bid to boost consumption. In Summer of 2019, A new production line at its plant for restaurant-use roux in Dalian, Liaoning Province will start operating. The 400 million yen ($3.68 million) addition is central to the company's goal to increase sales in China to 13 billion yen by fiscal 2023, up 2.2 times from 2018.

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Based in Osaka, House Foods entered the Chinese market in 1997 via sales of curry roux to restaurants. In 2005, it expanded into the consumer market with release of its Vermont Curry, offering samples at supermarkets to familiarize Chinese with the product.

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