Exhibition reveals multinationals' 40-year journey in Shanghai

Authorities announce Oct 29 the opening of a two-week exhibition to present the development of multinationals in Shanghai over the past four decades. [Photo/thepaper.cn]

A two-week exhibition opened in Shanghai Oct 29 presenting the development of multinationals in the city over the past four decades.

Multinationals serve as participants, witnesses, contributors and beneficiaries of China's reform and opening-up process that started in 1978.

Forty multinationals in Shanghai, including United States-based General Electric Co and United Technologies, Swiss industrial conglomerate ABB Group, and German engineering company Siemens, have been selected, covering a wide range of industries such as industrial manufacturing, logistics, healthcare and consumers goods.

Forty-two successful cases are being displayed, encompassing the successful test flight of C919 aircraft, and the research and development of LAMOST, one of the best astronomical telescopes in the world.

These cases represent the multinationals' major achievements or significant contributions to the development of Shanghai and China, and also show the great opportunities the companies have gained from China's reform and opening-up.

Tools such as photos, videos and multimedia devices are employed to improve on-site visual and audio effects and give visitors a better experience.

Shanghai, a pioneer of China's reform and opening-up, has made many remarkable achievements, such as attracting China's first wholly foreign-owned enterprises, rolling out China's first local laws and regulations for foreign investment, and establishing the country's first national economic and technological development zone.  

Foreign investment has played a vital role in Shanghai's social and economic development, as foreign-invested enterprises contribute over a quarter of the city's total GDP and over one-third of its total tax revenue.

By the end of June 2018, the city had brought in 93,100 foreign-invested projects, with contractual foreign investments reaching $445.7 billion.

More and more multinationals have located their regional headquarters in Shanghai. By the end of June, the city was hosting 642 multinational companies' regional headquarters, the most in China.