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The municipal government of Shanghai has rolled out a number of measures to salvage export-driven companies whose business has been hammered by shrinking overseas demand due to the COVID-19 pandemic.

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As an important move to promote the steady development of foreign trade, Putuo district in Shanghai signed a strategic cooperation agreement with the Shanghai branch of China Export & Credit Insurance Corporation, also known as SINOSURE, on May 21.

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Increased opening-up, reforms lift Shanghai to fourth spot in global rankings behind New York, London and Tokyo.

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