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 multinational corporations both in China and the Asia Pacific, the commission said.
Shanghai has not only maintained steady growth in attracting foreign investment but also improved its investment structure. This shows that as an important part of China's macroeconomy, the foreign investment economy is also moving toward high-quality development.
Shanghai has been promoting the construction of a scientific and technological innovation center with global influence over recent years. It has attracted foreign-funded enterprises to continuously increase their investment in the fields of electronics, biomedicine, R&D in artificial intelligence and related technical service enterprises.
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 USD 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 services for the regional headquarters.
Source: China Daily
