Shanghai tops as favorite MNC HQ
Source: Xinhua |
November 5, 2012, Monday
|
Print Edition
Print Edition
ABOUT 60 multinational corporations have set up their Asia Pacific or Asian headquarters in Shanghai, more than in any other city in the Chinese mainland, according to data revealed yesterday.
The statistics from the city's commerce commission also showed that, as of the end of September, about 77.1 percent of Shanghai's 393 regional multinational headquarters were involved in manufacturing while 22.9 percent of them were involved in the services sector.
Enterprises from the US represent 32.6 percent of the MNCs with regional headquarters in Shanghai. Companies from Europe and Japan take up 25.4 and 23.7 percent, respectively.
Shanghai has issued a package of new policies, including subsidies and duty exemptions, to encourage more MNCs to set up corporate headquarters and R&D centers in the city.
New regional multinational headquarters in Shanghai will be able to receive a launch subsidy of 8 million yuan (US$1.27 million) in three years, while foreign R&D centers will enjoy duty-free imports of facilities and equipment for their own use.
The new policies are intended to encourage foreign-funded companies to divert their management and innovation resources to Shanghai in order to transform the local economy amid the global recession, said Wang Xinpei, deputy director of the commission
The statistics from the city's commerce commission also showed that, as of the end of September, about 77.1 percent of Shanghai's 393 regional multinational headquarters were involved in manufacturing while 22.9 percent of them were involved in the services sector.
Enterprises from the US represent 32.6 percent of the MNCs with regional headquarters in Shanghai. Companies from Europe and Japan take up 25.4 and 23.7 percent, respectively.
Shanghai has issued a package of new policies, including subsidies and duty exemptions, to encourage more MNCs to set up corporate headquarters and R&D centers in the city.
New regional multinational headquarters in Shanghai will be able to receive a launch subsidy of 8 million yuan (US$1.27 million) in three years, while foreign R&D centers will enjoy duty-free imports of facilities and equipment for their own use.
The new policies are intended to encourage foreign-funded companies to divert their management and innovation resources to Shanghai in order to transform the local economy amid the global recession, said Wang Xinpei, deputy director of the commission
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