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24 multinationals move HQ to Shanghai
By Wang Yanlin |
July 14, 2010, Wednesday
|
Online Edition
Online Edition
THE Walt Disney Co, Kraft Foods Inc and Novartis International AG are among 24 multinational companies that decided to move their regional headquarters to Shanghai.
The multinationals, including six listed on the world's Fortune Global 500, were given certificates today for moving their regional headquarters to Shanghai.
It pushed the total number to 795 - including regional research and development centers - and maintained the city's status as China's top destination for regional headquarters of multinationals.
"The growing number demonstrated foreign companies' recognition of Shanghai's overall environment for foreign investments," said Sha Hailin, chairman of the city's Commission of Commerce. "It also came at a special moment when the World Expo was held in Shanghai, which greatly boosted the city's awareness among many foreigners."
Even during the downturn in the global economy, Shanghai's foreign direct investment increased 4.5 percent from a year earlier in 2009 to reach a record US$10.5 billion.
In the first six months of this year, Shanghai's foreign direct investment has already surpassed US$5.4 billion, according to the commission.
The city's accumulated investments from overseas thus amounted to US$100.7 billion, making Shanghai the third place reporting foreign investments of more than US$100 billion after Guangdong Province (US$230 billion) and Jiangsu Province (US$200 billion).
The multinationals, including six listed on the world's Fortune Global 500, were given certificates today for moving their regional headquarters to Shanghai.
It pushed the total number to 795 - including regional research and development centers - and maintained the city's status as China's top destination for regional headquarters of multinationals.
"The growing number demonstrated foreign companies' recognition of Shanghai's overall environment for foreign investments," said Sha Hailin, chairman of the city's Commission of Commerce. "It also came at a special moment when the World Expo was held in Shanghai, which greatly boosted the city's awareness among many foreigners."
Even during the downturn in the global economy, Shanghai's foreign direct investment increased 4.5 percent from a year earlier in 2009 to reach a record US$10.5 billion.
In the first six months of this year, Shanghai's foreign direct investment has already surpassed US$5.4 billion, according to the commission.
The city's accumulated investments from overseas thus amounted to US$100.7 billion, making Shanghai the third place reporting foreign investments of more than US$100 billion after Guangdong Province (US$230 billion) and Jiangsu Province (US$200 billion).
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