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December 8, 2016

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Shanghai is HQ for another 33 MNCs

ANOTHER 33 multinational companies, including SAP, CapitaLand and Shui On, were awarded certificates yesterday for setting up their regional headquarters in Shanghai.

Shanghai was home to the regional headquarters of 573 MNCs at the end of October.

The city also boasts 408 foreign-invested research and development centers.

Jin Xingming, deputy secretary-general of the city government, said Shanghai will continue to improve the environment for foreign investment.

“The city has benefited a lot from the headquarters economy,” Jin said. “Foreign investment is an important force to drive Shanghai’s growth, especially when the city is carrying out its innovation-driven development initiative.”

The city is the largest base for foreign-invested corporations in China, according to Jin.

In 2014, Shanghai allowed more MNCs, whose regional headquarters are not in the city, to benefit from policies on visa, residence permit and foreign expert certificate if their subsidiaries in the city are involved in strategy making, asset management, sourcing, sales, logistics, training, and research and development.


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