Shanghai’s Pudong district will kick off a pilot program to reduce the capital required to register group companies in an effort to attract more investors, the Liberation Daily reported. The Pudong Administration for Industry and Commerce said businesspeople can now register a group company in the area as long as the parent company has registered capital of RMB30 million (US$3.99 million). The consolidated capital of the whole group must add up to at least RMB50 million (US$6.66 million). In the other districts of Shanghai, a group company’s parent must have at least RMB50 million in registered capital while the consolidated capital of the parent and its subsidiaries must be in excess of RMB1 billion (US$133.16 million) to register.