Shanghai gains from presence of MNCs

Advanced Search

The story appears on

Page A6

October 29, 2016

GET this page in PDF

Free for subscribers

View shopping cart

Shanghai gains from presence of MNCs

By Wang Yanlin | October 29, 2016, Saturday |

Print Edition

APPLE China, Shanghai Volkswagen and SAIC-GM became the three most successful foreign-invested companies in Shanghai by sales in 2015, the Shanghai Commission of Commerce said yesterday.

According to a list ranking Shanghai’s top-100 foreign-invested companies, the combined revenue of these 100 enterprises rose 1.18 percent to 2.34 trillion yuan (US$345 billion) last year, reflecting a steady growth of foreign companies in Shanghai.

These companies, however, saw the value of their imports and exports fall 5.4 percent from a year earlier to US$164 billion mainly because they shipped less to other countries — a sign that more foreign companies are targeting the domestic market.

“Foreign companies are very important to Shanghai, especially in helping the city upgrade its industrial structure and move toward an innovation-driven economy,” said Liu Jinping, chairman of the Shanghai Association of Foreign Investment.

“Their contributions to the city can never be exaggerated,” Liu added.

Although the top-100 companies form a tiny part of the 42,000 foreign-invested enterprises in the city, they accounted for 40 percent of revenues and taxes paid by all foreign-funded companies in Shanghai, according to the commission.

Finance

About Us
|
Terms of Use
|
RSS
|
Privacy Policy
|
Contact Us
|
Shanghai Call Center: 962288
|
Tip-off hotline: 52920043

沪ICP证：沪ICP备05050403号-1
|
互联网新闻信息服务许可证：31120180004
|
网络视听许可证：0909346
|
广播电视节目制作许可证：沪字第354号
|
增值电信业务经营许可证：沪B2-20120012

Shanghai gains from presence of MNCs

Email this to your friend