CHINAEUROPE AFRICAASIA 中文双语Français
Business\Economy

Over 500 multinationals set up regional headquarters in Shanghai

Xinhua | Updated: 2016-12-08 10:36

SHANGHAI - Shanghai is home to the regional headquarters of 573 multinational corporations, the Shanghai Municipal Government said Wednesday.

Thanks to the city's growing influence, 38 multinational corporations chose Shanghai for their headquarters in 2016, and 13 of them also serve as the Asia-Pacific headquarters for the companies, according to Shanghai Municipal Commission of Commerce.

The city has welcomed 13 new foreign investment companies and 12 new research and development centers of foreign enterprises this year.

In addition to creating jobs, the headquarters of multinational corporations contributed taxes of about 41.7 billion yuan ($6.06 billion) in 2015.

According to Shanghai regulations, the headquarters of multinational corporations refer to exclusively foreign-owned enterprises that have multiple functions, including management decisions, fund management, purchasing and marketing, research and development and training. Their total assets should be equal to or more than $200 million, and they should have set up at least three foreign-invested enterprises in China.

BACK TO THE TOP
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US