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Foreign firms leading force in Shanghai’s innovation center drive
Online Edition
FOREIGN companies are a leading force in Shanghai's drive to become a global science and innovation center, said Zhu Wenbin, vice chairman of the Shanghai Association of Enterprises with Foreign Investment.
Zhu said today that his association will take an active part in the city's award program to honor multinational companies that have been making great contribution to Shanghai's construction of a science and innovation center with global influence.
"Shanghai has a tradition of being the home to many quality foreign companies in China," Zhu said during an online exchange with netizens. "We should treasure such a tradition, and make the best use of it to push ahead Shanghai's growth."
Zhu said a lot of foreign companies based in Shanghai are very strong in research and development, which makes them a leading force in Shanghai's built-up of innovation capability.
According to the association, Shanghai has attracted 506 multinational companies to locate their regional headquarters in the city by the end of April, while 384 research and development centers by global firms have been set up in Shanghai.
In the first half of the year, Shanghai's contracted foreign direct investment surged 134 percent from a year earlier to US$34.1 billion, more than last year's overall amount largely due to the supportive policies implemented in the China (Shanghai) Pilot Free Trade Zone.
"Foreign investment is indeed a main engine of Shanghai's growth," Zhu said. "Chinese companies, both state-owned and private, should be humble in learning from the good practice by foreign firms to enhance their ability in innovation."
To make it real than words, Shanghai launched the program "Innovation and Development: Multinational Companies in Shanghai" in June to select 40 winners among MNCs in the fields of innovative policies, local cooperation, talent development, and corporate social responsibilities, as part of the efforts to encourage innovation in Shanghai.
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