SWIFT, TARGETED CONTAINMENT
To curb the latest COVID-19 outbreak, Shanghai has carried out a series of swift, stringent and targeted measures including closed-off management in some areas.
"Our office in the Jing'an District was sealed for 48 hours, during which the efficient response of local authorities to the needs of enterprises was impressive," said Fabrice Megarbane, chief executive officer of L'Oreal China.
"It was late at night when the closed-off management came to an end. Thanks to the sufficient preparation of the local government, hundreds of taxis were waiting orderly outside our building to send home our employees safely," Megarbane said. "It fully reflected Shanghai's care for foreign-funded enterprises and the increasingly optimized business environment here."
According to the company, L'Oreal achieved double-digit growth on the Chinese mainland last year, growing at twice the industry average.
"We believe the difficulties are temporary, and we have great confidence in Shanghai," said Cao Chilun, president and country manager of Amkor Assembly & Test (Shanghai) Co., Ltd., a semiconductor company.
"Over the past weekend, the plant was temporarily put under closed-off management for 48 hours, but we continued to operate 24 hours a day during the period," Cao said.
According to Cao, their production plans have not been affected by the COVID-19 resurgence to date. "Shanghai's targeted containment measures have minimized the impact on companies."
Cao said there would be no change in the company's investment plans in China. "A new plant is under construction now, which is expected to go into operation in 2023 and increase the existing capacity by 45 percent."
Aiming to further propel opening up, improve its business environment and provide more investment autonomy for foreign enterprises, Shanghai issued procedures to streamline the approval and filing of projects with foreign investment in January.
The procedures that apply to foreign investors, as well as projects newly established or acquired by foreign-invested enterprises involving fixed asset investment in the city, came into effect on March 1.
"Shanghai will continue to provide foreign enterprises with customized services and help them solve practical difficulties in a timely manner," said Gu Jun, director of the Shanghai Municipal Commission of Commerce.
