Shanghai to simplify registration process for Taiwan businesses

Shanghai will streamline the business registration process for enterprises from Taiwan and support them to be part of the first China International Import Expo, among a host of measures to advance progress toward the country's peaceful reunification.

The 55-point circular unveiled Friday by the municipal government's Taiwan Affairs Office has laid out major policy directives to make sure that people from Taiwan enjoy the same treatment as locals when they pursue studies, start businesses, seek jobs or live on the Chinese mainland.

Local authorities said they will "unleash more policy incentives", including supporting companies from Taiwan to establish (regional) headquarters, financial arms, operations, and procurement or logistics centers in the city.

It also vows to support them to be involved in the display, sales and procurement in the China International Import Expo in November, and better facilitate small, medium- and micro-sized enterprises from Taiwan to set foot in Shanghai on the financial front.

Apart from optimizing registration procedures for new entrants, the city will support the professional evaluation of technicians from Taiwan, while young entrepreneurs will be incentivized through rent subsidies and interest subsidies for startup loans, among others.

Law firms from the island are also encouraged to establish representative offices or law firms in the city, and Taiwan lawyers are welcome to work in Shanghai and serve as legal counsel in Chinese mainland law firms.

The directive also promotes Taiwan companies to play a part in the cosmopolitan area's goal to build the "four brands" -- service, manufacturing, consumption and culture.

Shanghai is a key hub for cross-Strait economic and cultural exchanges, attracting 12,488 Taiwan-invested companies with combined investment of $39.5 billion thus far, according to official figures.