MNCs head to Pudong
By Pan Xiaoyi |
January 21, 2010, Thursday
|
Print Edition
Print Edition
DOW Corning, BASF and other multinational companies in Shanghai yesterday signed 35 investment deals worth a total of more than US$2 billion with Pudong New Area government.
The companies from 13 countries and regions, including the United States, Britain, Taiwan and Hong Kong, intend to set up research centers, investment arms or regional headquarters in Pudong. The companies are involved in areas, including new energy, bio-pharmaceutical, financial investment, financing lease and advanced manufacturing, such as AstraZeneca, LG Electronics and Nippon Paint.
Boosting Lujiazui's position as Shanghai's financial center are Mellon Financial Group, investment firm DE Shaw & Co and Aviva Investors, a unit of Britain's biggest insurance group Aviva Plc, which will set up offices there.
"Pudong will attract foreign investment to complement the city's strategy to build itself into a global financial hub and shipping center," said Jiang Liang, head of the area.
Foreign investment has played a vital role in Pudong's development as it has contributed nearly 70 percent of its economic growth.
The companies from 13 countries and regions, including the United States, Britain, Taiwan and Hong Kong, intend to set up research centers, investment arms or regional headquarters in Pudong. The companies are involved in areas, including new energy, bio-pharmaceutical, financial investment, financing lease and advanced manufacturing, such as AstraZeneca, LG Electronics and Nippon Paint.
Boosting Lujiazui's position as Shanghai's financial center are Mellon Financial Group, investment firm DE Shaw & Co and Aviva Investors, a unit of Britain's biggest insurance group Aviva Plc, which will set up offices there.
"Pudong will attract foreign investment to complement the city's strategy to build itself into a global financial hub and shipping center," said Jiang Liang, head of the area.
Foreign investment has played a vital role in Pudong's development as it has contributed nearly 70 percent of its economic growth.
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