What kind of organization is the Shanghai Foreign Investment Commission (FISC)? What is FISC responsible for?
FISC, a comprehensive and authoritative working organization, is established by the Shanghai Municipal Government to improve investment environment and streamline procedures of project examination and approval. FISC has the following responsibilities: (1) to work out related regulations in detail, project and product lists guiding foreign investment in accordance with economic development strategy of Shanghai and industrial policy of the state. (2) To offer foreign investors various consulting services on policies, laws and regulations, to receive visitors, to answer letters and handle complaints. (3) To examine and approve foreign investment projects with a total investment from USD 10 million to USD 30 million each and to oversee foreign-funded projects of the city with a total investment under USD 10 million each. (4) to coordinate and solve problems foreign investors encounter during the setting up and production stages of their enterprises.
