Chinese authorities are urging Thai businesspeople to invest in Shanghai's Lujiazui Financial City, the largest financial zone in mainland China.
Speaking at the "Lujiazui Financial City Roadshow" in Bangkok yesterday, Yuan Yefeng, deputy director-general of the Shanghai Lujiazui Financial City Authority, said the district is often dubbed the "Wall Street of the East", and it has cooperated with other world-class business districts such as those in London and New York.
"There are many economic zones in China, but for Lujiazui, it is the only economic zone in China that combines finance and trade together," Mr Yuan said.
Spanning almost 32 square kilometres and housing over 6,000 financial institutions, including one-fifth of the world's world's leading financial companies, the zone also rents offices to 45,000 companies.
Firms that settle there can benefit from tax measures the Chinese government has introduced, such as reducing personal income tax from 25% to 15% for technology businesses in fields like artificial intelligence and biomedical engineering.
"We also have a professional workforce of more than 200,000 people, one-third of whom graduated and worked abroad," Mr Yuan said.
"We also have a comprehensive working environment that is suitable for investment, such as legal services, financial consulting services, human resources, and business strategy planning.
"We even have the New York University Shanghai Campus and other entertainment areas. We hope that one day we will have a chance to welcome many businesspersons from Thailand."
Paichit Wiboonthanasarn, the vice president and secretary general of the Thai Chamber of Commerce in China, said Thailand and China had enjoyed a long-standing and close relationship, and their economic ties are growing healthily.
"China has become the number one country that has close economic ties to Thailand, and that covers many areas such as tourism, trade and investment. I believe that this year, China will remain the champion among foreign investors in Thailand," Mr Paichit said.
We will also witness the growth of innovative Chinese industries in Thailand that correspond with the "Made in China 2025" policy, especially in the Eastern Economic Corridor, he noted.
Charoen Phokpand was the first Thai company that invested in China. There are now three Thai banks operating in the country -- Bangkok Bank, Kasikorn Bank and Siam Commercial Bank. The PTT oil enterprise also operates there, Mr Paichit said.
He described Shanghai as the dragon's head of the Chinese economy, fully equipped with advanced infrastructure.
"We may have heard about the magnetic railway and Yangshan port, the world's biggest," he said. "Shanghai has been used as a space to pioneer many new policies and innovations. This megacity has become the world's largest 'living room' serving foreign investment.
"I believe this roadshow will provide an opportunity for Thai investors to know about this area, and I hope there will be many more Thai businesses operating in Shanghai in the future," he added.