Policy Updates | Shanghai Fortifies Commercial Brand Development

On 28^th September, the Financial Commission Office of the CPC Shanghai Municipal Committee and the Shanghai Head Office of the People’s Bank of China jointly issued the Several Measures (Trial Implementation) on Further Advancing the High-quality Development of Offshore Bonds in the Shanghai Pilot Free Trade Zone. The document clarifies that investment entities – including unincorporated organisations, sovereign wealth institutions or overseas subsidiaries – may choose to invest via proprietary accounts or nominee holding accounts, and may open segregated sub-accounts under nominee holding accounts. Nominee holding accounts and proprietary accounts are kept strictly segregated.

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On 29^th September, the Shanghai Municipal Commission of Commerce, together with six other authorities, issued the Action Plan on Strengthening Shanghai’s Commercial Brand Development. The action plan aims to cultivate a more competitive cluster of commercial brands and establish a more effective support system in Shanghai, thereby enhancing the city’s overall capacity and influence as an international consumption hub. It sets out 20 concrete measures across five pillars: tiered brand cultivation, standards setting, value enhancement, global expansion, and ecosystem optimisation.

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On 28^th September, the Management Committee of the Lingang Special Area issued the Several Measures to Support the High-quality Development of Offshore Trade in the Lingang Special Area of China (Shanghai) Pilot Free Trade Zone. The document introduces eight supporting initiatives focused on fostering industrial clustering in offshore trade, enhancing financial service capabilities, and advancing digitalisation in offshore trade. The document took effect upon release and will remain valid through December 31, 2028.

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