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Home >> Shanghai >> Article
30 more multinational regional headquarters located in Shanghai
By:Xu Yiran  |  From:english.eastday.com  |  2018-12-13 14:31

The 29th Certification Ceremony for multinational regional headquarters and research and development centers was held by the Shanghai Municipal Government earlier this month. Mayor Ying Yong issued the certificates to 30 multinational corporations’ regional headquarters and 15 research and development centers.

(A view of Pudong’s Lujiazui [Photo/Chinanews])

Over the years, Shanghai has been focused on developing emerging industries of strategic importance, as well as the high-end manufacturing and modern service industries, with an emphasis on multinational companies with the first or second largest share of products or services in the global market, while increasing its investment attractiveness. A number of global leading corporations’ multinational headquarters have been introduced in Shanghai. 12 of the 30 companies that have obtained certificates this month are their industries’ number one or industry-leading companies, such as the world’s largest family cruise company, Mediterranean cruises, and Shanghai’s first financial regional headquarters --the regional headquarters of the American Baring Group, a member of the American Vantone Financial Group.

The 15 R&D centers that have been certified this time are also from leading companies in the industries, such as the world’s leading auto parts supplier, French Valeo Group, and Schindler Group, one of the world’s largest elevator and escalator manufacturers, as well as China’s leading bio-pharmaceutical enterprise, Ding Pharmaceutical, founded by a leading figure of China’s bio-pharmaceutical industry, Ms. Du Ying.

According to the data provided by the Shanghai Municipal Commission of Commerce, by the end of November 2018, Shanghai had introduced 665 multinational corporations’ regional headquarters, including 85 Asia-Pacific headquarters, 360 investment companies and 440 R&D centers. The number of headquartered organizations has maintained the nation’s leading position.

The higher number of multinational corporations’ headquartered here, as well as the R&D centers’ growth, have also boosted the overall development of foreign investment in Shanghai and achieved a leap-forward development of Shanghai’s use of foreign capital. As of the end of October 2018, Shanghai’s actual foreign investment has exceeded 237.6 billion US dollars, and the cumulative number of foreign investment projects has exceeded 95,600.

According to the results of monitoring 12800 foreign-invested enterprises’ operation in Shanghai, since 2018, the operating income of foreign-funded enterprises has increased by 8.1% year-on-year. The total tax payment has increased by 11.1%, and the total profit has increased by 7.2%. Overall, foreign companies in Shanghai are maintaining a good momentum.

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