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Shanghai draws international merchandisers
2004/06/09



Shanghai has become a promising base for international purchasers and other offshore companies in China to cream off profits, city government figures show.

To date, a total of 48 international purchasers, including Wal-Mart and Carrefour, and more than 1,800 offshore companies have set up branches or offices in Shanghai, China's financial hub.

To promote its efficiency and attract more international buyers, the city established the Shanghai International Merchandising Center in 2002, which handles all foreign trade procedures.

By Thursday, services provided at the center ranged from foreign trade, customs, logistics and inspection to taxation and training.

With the aim of reducing operational costs and expanding exports, the center is viewed as a major step toward sustaining Shanghai's foreign trade economy, says Vice Mayor Zhou Yupeng.

Shanghai is keen to refashion itself as a major global merchandising center within three to five years and play an important role in the world purchasing chain, according to Zhou.

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