Shanghai's Xuhui District holds investment promotion event in Paris to woo French businesses

PARIS, Sept. 28 (Xinhua) -- An investment promotion event was held on Friday in Paris to showcase the great development potential of Shanghai's Xuhui District, and to woo French businesses for more investments.

The event, themed "Xuhui & France, Together for a Shared Future", attracted over 100 participants from the political, business, and cultural sectors from both China and France.

Wang Hua, head of Xuhui District, highlighted the deep-rooted connection between Xuhui District and France, which stretched back over a century. Wang described Xuhui's current focus on high-quality development, improving the level of openness, and enhancing the district's competitiveness.

He emphasized that Xuhui has created a highly supportive business environment, marked by streamlined administrative processes and policies designed to foster innovation and attract foreign investment.

Wang outlined Xuhui's plans to build on its strengths in technology and industrial innovation, merge technological advancements with industrial development to drive future growth, as well as position itself as a leader in sectors like artificial intelligence, integrated circuits, and life sciences. He welcomed French and European companies to explore opportunities in Xuhui, underscoring the district's appeal as a prime location for international enterprises.

Already home to around 140 French companies, including firms like Valeo and Peugeot Citroen, Xuhui has seen investment of over 900 million U.S. dollars from France. In May this year, the French cultural and tourism giant Puy du Fou launched its first Asian project "SAGA" in the district, underscoring Xuhui's growing role as a hub for cultural and tourism innovation, he said.

Managers from French companies at the event spoke highly of the Xuhui District's open and collaborative spirit, as well as the strong government support that has made it an ideal base for international enterprises looking to expand in the Chinese market.

The event witnessed the signing of MoUs between Xuhui District and key French institutions. The Shanghai Xuhui-France Investment Promotion Service Center was officially inaugurated at the event, marking a new milestone in economic collaboration between Xuhui and France.