On February 27, 2012, the Shanghai Municipal Development and Reform Commission and the Shanghai Municipal Commission of Commerce jointly issued the “12th Five Year Plan for the Absorption of Foreign Capital and Overseas Investment.”   According to the plan, during the period from 2011 to 2015, Shanghai aims to further improve the structure of local foreign investment, seek new channels for foreign investment in capital markets, further promote the facilitation of investment, and further encourage the integration of the absorption of foreign capital and overseas investment.  The plan encourages foreign investors to participate in the ongoing development of Shanghai as a center of international finance, international shipping and international trading.  It also supports domestic enterprises to make outbound investment in high and new technologies, acquire technologically advanced foreign manufacturers, and develop international markets by obtaining brands, equity or service businesses in foreign countries. 

The full Chinese text of the plan is available here.