Shanghai unveils plan to woo foreign investors after economic slump

Shanghai rolls out action plan to boost foreign investment and innovation, following economic slowdown and loss of business confidence
Promises include facilitating cross-border data flows, strengthening intellectual property protections, and integrating foreign and local companies
Financial incentives and streamlined procedures also pledged, but details remain unclear
Foreign business groups welcome proposals but want to see concrete follow-through on long-standing issues like data rules and IP enforcement
Plan is latest in series of central and local government attempts to rebuild trust and stem foreign investor exit