Deputy Secretary of the CPC Shanghai Committee and Mayor of Shanghai

Han Zheng

mayor photo

The development of Shanghai depends on you all.If you have some suggestions and advices on the construction and development of Shanghai, please write to me.

Mayor awards 20 multinationals for opening headquarters in city

Twenty multinational corporations with new regional headquarters in Shanghai received certificates from Shanghai Mayor Han Zheng in a ceremony on November 2. They are the 21st group of foreign enterprises to receive the certificates since 2002.

They include five Fortune 500 enterprises such as PPG Industries, Randstad Group and Anheuser-Busch InBev and four companies specialized in modern services.

The Shanghai government has been providing incentives for multinational companies to locate their regional headquarters in the city since 2002 with support from the Ministry of Commerce. In 2008, the city introduced new regulations and policies to promote the development of the so-called “headquarters economy.”

In the first nine months of this year, Shanghai attracted US$15.49 billion of contracted investment, up 36.6 percent year on year. Utilization of foreign fund reached US$10.05 billion, up 22.9 percent. During the period, 42 foreign companies set up regional headquarters in Shanghai and 13 established their research centers here.

By the end of September, foreign companies had established 237 investment firms, 347 regional headquarters and 332 research centers in Shanghai, ranking the city first among Chinese provinces and municipalities.

Vice Mayor Ai Baojun was also present at the ceremony.