SHANGHAI expects to attract more quality service and advanced manufacturing multinational companies to locate their regional headquarters in the city, Gu Jun, vice chairman of the Shanghai Commission of Commerce, said yesterday.

“Shanghai is the largest base of foreign companies in China,” Gu said during a live interview broadcast by online news provider Eastday.com to promote an award scheme launched in June by Shanghai Daily and the portal.

“A lot of companies have located their regional headquarters and research and development centers in Shanghai, and made the city a gateway to explore the broad Chinese market,” he said.

Gu was speaking about the “Innovation and Development: Multinational Companies in Shanghai” scheme which recognizes multinational companies that have played a key role to promote innovation in the city.

The award scheme is open to companies whose “innovative practices are in line with the city’s economic and social development plans,” the organizers said earlier.

By the end of June, 514 multinational companies have their regional headquarters or global headquarters in Shanghai along with 388 research and development centers set up by multinational companies, according to the commission.

In October an expert panel and a public vote will decide on 40 winners picked from more than 80 multinational companies which submitted their case studies for evaluation. The winners will be picked for their contributions to local cooperation, talent development and corporate social responsibility.

The scheme is sponsored by the Shanghai Information Office and the commission.