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More MNCs open HQ in Shanghai
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SHANGHAI continues to attract multinational companies to set up their headquarters in the city because of the pilot free trade zone and the city’s role as the gateway to China’s market.
Yesterday, another 58 multinational companies received their certificates for locating their regional or global headquarters in Shanghai.
Car parts maker Delphi Packard Electric Systems Co said its global regional headquarters would move from Detroit in the United States to Shanghai.
“China is the future of the car industry, and Shanghai is the gateway to China’s market,” said Simon Yang, president of Delphi China.
“That’s why we move the headquarters of Delphi Packard, a major division of Delphi, from the US to Shanghai. We will manage the global business of Delphi Packard, including sales, marketing and research and development, in Shanghai,” he said.
German consulting firm Roland Berger Strategy Consultants set up its Asian headquarters in Shanghai by following some of its clients who were lured by the FTZ.
“The pilot free trade zone has made it more efficient for the movement of both capital and goods, creating an edge valued by global investors,” said Wu Qi, managing partner and president of Roland Berger China.
Others which got the certificates yesterday included the American Bureau of Shipping (China) Ltd, Asahi Breweries (China) Co, Meidensha (Shanghai) Corporate Management Co and Burger King (China) Co.
By end of October, Shanghai had drawn 484 multinational companies to set up their regional headquarters in Shanghai, as well as 295 holding companies and 379 research and development centers, according to official data.
Xu Yibo, deputy secretary-general of the Shanghai municipal government, said the city will tap the opportunities brought by the FTZ and further improve the city’s environment for foreign investment.
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