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September 16, 2019

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City now home to 701 MNCs’ regional HQs

Source: Xinhua | 00:05 UTC+8 September 16, 2019 | Print Edition

A TOTAL of 701 multinational corporations have established regional headquarters in Shanghai by the end of August, according to the municipal commission of commerce.

Among them, 106 are headquarters for the Asia Pacific region, showing that the city is an important operation center for many MNCs, both in China and the Asia Pacific, it said.

The number of foreign-funded research and development centers reached 451 by the end of August, with 10 newly launched in the first eight months of this year.

Driven by the prosperous development of these headquarters, foreign investment into Shanghai has maintained fast growth, with 4,661 new foreign investment projects set up from January to August, up 47.8 percent on year, the commission said.

Shanghai launched new policies last month to attract global enterprises, according to which the requirement for the total assets of parent companies of regional headquarters has been adjusted to US$200 million.

To further facilitate R&D, Shanghai also plans to add renowned foreign trademarks that are vulnerable to infringement to the city’s key protection list, to provide better intellectual property protection.

Metro


 

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