According to the Voice of China's CCTV News, eight departments, including the Shanghai Municipal Commission of Commerce, the State owned Assets Supervision and Administration Commission and the National Development and Reform Commission, jointly issued the Implementation Opinions on Further Accelerating the Cultivation of Shanghai's State owned Transnational Corporations, which systematically deployed Shanghai's efforts to accelerate the cultivation of state-owned transnational corporations in the next five years.

The opinion proposed that Shanghai should strive to basically form a group of state-owned companies with strong market development ability, resource allocation ability, technological innovation ability and brand operation ability after three to five years of efforts. Among them, there are five to eight non-financial multinational companies that can be included in the top 100 of the Ministry of Commerce, and eight to ten cross-border operating enterprises with a high proportion of overseas assets and turnover. This opinion will be officially implemented on March 1.

It is understood that Shanghai has also provided some strong support to state-owned enterprises preparing to go to sea. For example, it is suggested that the Shanghai State owned Assets Supervision and Administration Agency will simplify an approval procedure for overseas investment cooperation and implement the filing system for overseas investment cooperation projects of municipal enterprises. It is worth noting that the opinions also provide practical support for improving the enterprise's level of cross operation management and risk prevention and control.

Shanghai will guide enterprises to establish and improve investment decision-making, project evaluation, process monitoring and risk sharing mechanisms for overseas investment, and build a system for overseas risk prevention and control in accordance with some relevant regulations of the central government and the municipal government on the supervision of overseas state-owned assets of enterprises, We will use special financial funds to support state-owned enterprises and enterprises of all forms of ownership to buy export credit insurance, overseas investment insurance and other hedging tools and measures.

Teng Zhijun, the relevant person in charge of Shanghai Branch of China Export&Credit Insurance Corporation, said in an interview with the media that financial support such as credit insurance can greatly reduce the worries of state-owned enterprises when making decisions to go global.