-- Shanghai officials signaled continued support for foreign businesses, citing Toyota Motor (TYO:7203) and Japan External Trade Organization as part of efforts to attract investment, Nikkei reported Tuesday.
The city plans to deepen reforms, expand free trade zones and ease restrictions to encourage foreign companies to grow operations, according to the report.
Authorities pointed to progress on a Lexus plant in Shanghai and said nearly 80,000 foreign firms operate in the city, the report said.
The push comes despite strained Japan-China ties, with officials aiming to speed up market entry and improve support for overseas investors, according to the report.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)