Xiamen takes measures to boost headquarters economy

The coastal city of Xiamen in East China's Fujian province is carrying out an array of measures to boost the high-quality development of the headquarters economy in an effort to build itself into a core area for the headquarters economy along the 21st century Maritime Silk Road and the southeastern coast of the country.

According to the guidelines unveiled last October, the city is expected to attract more than 100 new headquarters enterprises by the end of 2025, with their tax incomes accounting for 30 percent of the city's total.

The headquarters economy in Xiamen has seen stable growth over the years thanks to support from the local government, an improved business environment, and ample access to talent, capital, and technology, making the city a hub for headquarters enterprises, which have created a new growth engine for Xiamen's high-quality development.

The city is currently home to a number of regional headquarters of transnational corporations such as Dell and Amazon, as well as the research and development centers of many large domestic enterprises such as China Mobile and China Construction Bank.

Statistics show that in 2019, the business income of headquarters enterprises in Xiamen accounted for 29.07 percent of the city's total, while their profits accounted for 43.09 percent of the total.

The headquarters economy has also served as a driver of Xiamen's economic and social development. Headquarters enterprises in the city offered 220,000 jobs in 2019, and the city's service sector, including tourism, catering, and entertainment, also benefited from the flourishing headquarters economy.