Date
24 October 2017

Shanghai to nurture state-owned multinationals, paper says

Shanghai plans to nurture globally competitive state-owned multinational firms through financial leasing and export credit insurance assistance, Shanghai Daily reported Thursday. The city aims to have five to eight such multinational companies ranking in the country’s top 100 within three to five years, the Shanghai Commission of Commerce was quoted as saying in a document Wednesday. The local government will support the firms through financial leasing and export credit insurance to help them avoid defaults caused by unpredictable conditions like a political crisis overseas, it said.

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