A roundtable meeting is held for Singapore enterprises in Shanghai on Aug 26. [Photo/sww.sh.gov.cn]

The Shanghai Municipal Commission of Commerce reportedly held a roundtable meeting on Aug 26 for Singapore enterprises – who are currently operating there or who want to do business in the city in East China.

Prominent participants included Johnny Teo, deputy director of Enterprise Singapore – a statutory board under the Ministry of Trade and Industry of the Singapore Government that helps with overseas growth of Singapore-based companies and promotes international trade.

He gave a briefing on the current levels of business and the prospects for increased commerce and trade  between Singapore and Shanghai.

Representatives of Singapore companies in Shanghai raised questions about its first-store economy, foreign graduates starting businesses in Shanghai and digital finance innovation, among other things.

Gu Jun, director of the Shanghai Municipal Commission of Commerce, said Singapore companies had already made contributions to the city's urban and economic development.

Since the start of the year, the introduction of foreign investment in Shanghai has seen rapid growth. From January to July, a total of 3,917 foreign enterprises were established in Shanghai, up 33.8 percent year-on-year, while paid-in foreign investment reached $14.32 billion, up 18.8 percent. Gu told the meeting that Shanghai remains a hot destination for international investment.

He stressed that Shanghai would continue to improve its business environment and strive to provide better business conditions for international companies, including Singaporean enterprises.