Eastern Hub IBCZ positions itself as global business magnet

The Shanghai Eastern Hub International Business Cooperation Zone set out its ambition to become a magnet for global commerce with simplified visa policies and streamlined business practices at a roundtable held on Dec 18.

The event, organized by the Foreign Affairs Office of the Shanghai Municipal People's Government, the IBCZ Authority, and China Daily, combined a site visit with a roundtable, bringing together government officials and international business leaders to explore the zone's distinctive offerings and foster international partnerships.

Zhao Yugang, deputy director of the IBCZ Authority, outlined efforts to ease entry for foreign business travelers. Entities within the zone can now directly invite overseas personnel for business activities, bypassing traditional visa application processes.

He explained that the new policy requires only a letter of invitation and confirmation from the IBCZ Authority, allowing qualified individuals to arrive at Shanghai Pudong International Airport and enter the zone within 48 hours.

In addition, visitors can apply for an electronic port visa up to 15 days before arrival, enabling travel beyond the zone into other domestic regions.

"The IBCZ hopes to become the first and most convenient stop for overseas professionals doing business in China," Zhao said. He added that visitors may stay for up to 30 days, with the possibility of extension, supporting more substantive engagement.

Rainer Kern, vice-president of Karcher Group and CFO of Karcher China, praised the new policies for their potential to strengthen trade and collaboration. He noted that the 30-day stay facilitates exchanges, while the flexibility of invitation-based entry allows companies to bring in experts at short notice for discussions and meetings.

He added that such measures align with the Chinese government's continued efforts to improve the business environment.

Michael Kruppe, general manager of the Shanghai New International Expo Centre, highlighted the benefits for high-tech industries. He noted that the zone's location supports business connectivity and facilitates meetings, particularly in fields such as AI, digitalization, and medicine.

"Meeting face to face is so important. Why would my customer or I attend a meeting? Because it's convenient and cost-saving", Kruppe said.

He also pointed to the zone's visa-free policy, office spaces, hotels, and meeting rooms, catering specifically to high-tech meetings, and allowing attendees to potentially visit exhibitions hosted by SNIEC.

Doctor John K. Hsiang, chairman of the Jiahui Health Executive Committee, said access to high-quality healthcare further enhances the zone's attractiveness to international visitors. He pointed out that the zone offers international-standard medical services with multilingual support. "If business people feel sick here," Hsiang explains, "They can come to our hospital, and we can provide high-quality care."

Emmanuel Meril, counsel at Beijing Dacheng Law Offices, LLP (Shanghai), emphasized the value of the visa-free policy for countries without existing visa waiver agreements with China. He suggested that the convenience of obtaining a visa quickly within the zone further enhances its attractiveness.

During the roundtable, Zhao also addressed plans to incorporate cultural elements. While the zone remains focused on business-to-business activities, it will offer curated experiences, including opportunities to explore Shanghai-style cheongsams (qipao) and local snacks.

He also announced plans for a global medical device exhibition, trading, and innovation center, designed to showcase the latest advancements in medical technology.

Zhao said the initiative aims to accelerate the entry of new medical technologies and pharmaceuticals into the Chinese market, while facilitating the export of Chinese medical products.

"This will be a very convenient place to do business," Zhao said, outlining a vision for a 24/7 global business hub.

Hsiang also noted a rising number of international patients seeking medical treatment in China, particularly in CAR-T therapy, citing the country's cost-effectiveness and technological progress.