Source: Xinhua

The Shanghai municipal government Tuesday introduced a total of 100 new measures covering five areas in a bid to further expand the city's opening-up.

To upgrade Shanghai's status as an international financial center, the local government proposed greatly easing market access in the banking industry for foreign capital, relaxing the restrictions on the proportion of shares and business scope in the securities industry for foreign investors, and encouraging opening-up of the insurance industry.

In terms of modern services and advanced manufacturing, foreign capital is welcomed to enter industries such as telecommunications, automobile, aircraft and shipbuilding.

The municipal government has also put forward effective measures to further protect intellectual property rights, promote imports and improve the business environment.