(Yicai) Jan. 17 -- Shanghai lawmakers have proposed new measures for the city, which is particularly affected by increasing global economic uncertainty and risks because of its strong export-oriented economy, to protect and support outward-bound Chinese businesses.

Trade protectionism is growing, said Wu Jian, a delegate at the ongoing annual session of the Shanghai Municipal People's Congress. Some countries are even using legal means to create barriers and adopt discriminatory policies targeting Chinese companies, he said.

Wu, who is also executive chairman of the global board of directors at Shanghai-based Duan & Duan Law Firm, suggested setting up a collaborative platform for Chinese firms to protect their rights overseas through information pooling, resource sharing, and cooperation.

In recent years, some countries and regions have ratcheted up their protectionist policies and imposed legal and regulatory barriers on Chinese companies, particularly in sectors such as technology, creating a challenging environment for those seeking to expand globally.

Big data, artificial intelligence, blockchain, and other emerging technologies offer new ways and methods to address legal challenges faced by companies venturing abroad, noted Lü Yan, another SMPC delegate and senior partner at SG&CO Lawyers.

These technologies can integrate vast amounts of legal data, use intelligent algorithms for precise analysis, and quickly provide customized legal solutions for enterprises, Lü pointed out.

Lü proposed stepping up efforts to cultivate legal technology talent, promoting the open sharing of legal data, and creating a unified legal data platform citywide. In addition, Duan & Duan's Wu also recommended setting up a specialized international law school to train lawyers proficient in international legal norms and adept at handling cross-border legal matters.

Geopolitical tensions and international tech rivalry have heightened the uncertainty for outward-bound Chinese companies, making the need for Shanghai to improve its investment promotion and corporate service capabilities even greater, said Liu Minghua, a delegate and deputy chief executive of Deloitte China.

Liu said Shanghai should focus on "helping enterprises go global better from within China" on the one end, and "helping enterprises take root overseas" on the other.

The city needs to beef up support for outbound investment frameworks, improve government service functions, and foster partnerships between the Shanghai International Chamber of Commerce and more international resources and market-oriented forces, according to Liu.

Many digital trade enterprises struggle with the various countries’ localization requirements for information technology, said Ji Xinhua, a delegate who chairs UCloud Technology. He suggested forming alliances with leading digital economy enterprises, financial service providers, legal professionals, and other organizations to create "service stations" for overseas expansion and address common issues these companies face.

In addition, Ji, who is also chief executive of the cloud storage and data analytics firm, proposed leveraging the resources of Chinese embassies and consulates to organize international business cooperation events to facilitate exchanges, while ensuring cross-border data security.

All of these proposals were made during a discussion of the city government's 2024 work report at the SMPC, which runs through tomorrow.

Editor: Martin Kadiev