Pudong remains attractive destination for foreign investors

Shanghai certified 30 regional headquarters of multinational corporations (MNCs) and 10 research and development (R&D) centers on June 15, and 13 are located in the city's Pudong New Area, which is an indication that the area is still one of the most attractive destinations for foreign investors in Shanghai, despite the impact of the recent  COVID-19 outbreak in the city.

Among the certified MNC regional headquarters and R&D centers in Shanghai, 57.5 percent of them were manufacturing enterprises, and 42.5 percent of them were from the service sector. There were many world-leading enterprises such as German medical technology company Siemens Healthineers, and Japanese industrial automation giant Omron.

The 13 certified MNC regional headquarters and R&D centers span Pudong's key industries such as biomedicine, intelligent manufacturing, commercial and retail, and high-end services.

According to official data, Pudong had 256 foreign-funded R&D centers as of January, accounting for 50.29 percent of the city's total, and as of the end of May, the area had 398 regional MNC headquarters, accounting for 46.93 percent of Shanghai's total.

The headquarters economy plays an important role in promoting Pudong's high-quality development. Earlier this year, Pudong unveiled 50 concrete policy measures to minimize the impact caused by the COVID-19 pandemic and help ease the burden on enterprises.

These measures noted that Pudong will beef up efforts to boost the confidence of foreign investors, and will release supportive measures to promote the high-quality development of the headquarters economy. The local government will also offer incentives to eligible investors from Hong Kong, Macao, Taiwan and other regions as well as existing foreign-invested enterprises.

Pudong New Area in Shanghai has 398 regional headquarters of MNCs, accounting for 46.93 percent of Shanghai's total. [Photo by Wang Gang/For China Daily]