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Yang Xiong Meets with Official of U.S. Trade Representative Office

    On July 20, Shanghai Mayor Yang Xiong met with Andrey Winter, acting assistant trade representative of the United States Trade Representative Office, who came to Shanghai to attend the 10th China-U.S. Insurance Talks. Zhou Yanli, vice-president of the China Insurance Regulatory Commission, was present at the meeting.

    Yang Xiong said Shanghai is driving the building of China (Shanghai) Pilot Free Tradeand carrying forward the reform and opening up. To foreign investment we apply a management model featuring national treatment plus a negative list prior to market access and a batch of investment and trade facilitation measures have been put into implementation. Also, we are steadily propelling financial opening up and innovation. The financial industry is a pillar of the modern financial system and an important part of our building of an international financial center. In recent year, under the vigorous support of the China Insurance Regulatory Commission, Shanghai’s insurance sector has achieved remarkable development and seen a steady rise in the number of Chinese and foreign insurance companies here. Market platforms including Shanghai Insurance Exchange have emerged, opening up has forged ahead and the insurance market has seen active innovation. Shanghai would like to deepen cooperation and exchange and share opportunities for development with insurance institutions of other countries including the United States and to play an active role in promoting the economic and trade ties between China and the United States.

    Andrey Winter said she was most pleased to come to Shanghai to attend the insurance talks between the United States and China. Shanghai’s development has caught the attention of all. Many American businesses have come to invest and do business in Shanghai. She believed China’s opening up will provide even more opportunities for the U.S. and Chinese businesses and promote investment and trade between the two sides.