2017: A big year for many in Shanghai

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It's almost 2018.

For the past week, I have been interviewing people in Shanghai about their 2017. Among them, I talked to Patrick Chen, a public relations specialist that services major multinational firms in the city.

"As a communications professional, I help some multinationals and some practitioners promote their programs and get many people to know what they are doing. My wish for 2018 was to inspire more people to engage in such initiatives", said Patrick.

Patrick Chen will devote himself to corporate social responsibility programs in 2018. /CGTN Photo

The rising need for foreign firms to launch corporate social responsibility programs in China is testament to their increasing engagement in the world's second-biggest economy.

Today, over 600 multinational corporations have set up their China headquarters in Shanghai, and 67 of them launched their regional (Asia-Pacific) headquarters in this city.

Furthermore, the Shanghai free trade zone has made setting up and running business operations much more efficient for international companies that want to expand in China.

Shanghai has been on the forefront of China's opening-up efforts and 2017 marks a year when China has further opened up its financial sector to international firms. In Shanghai, China's financial center, the opening up policies have changed the pace of living for many financial professionals there.

This has been a big year for Patrick Liu. He is the CEO of the Neuberger Berman China, an asset management firm from the USA.

2017 has been a busy year for Patrick Liu. /CGTN Photo

"It's been a very busy year. There are many different priorities. In 2016 there was a new regulation that allowed global managers to set up investment platforms in China. I was hired by Neuberger in that capacity to really set up their investment platform in China. That's been my sole focus this year," said Liu.

Many global firms have set up wholly foreign-owned enterprises in China, and over 30 of them, including the one that Mr. Liu works for, are located in the iconic Lujiazui district.