Year-ender: 10 noteworthy economic stories in 2022

Shanghai becomes a headquarters for headquarters

In early November, Shanghai published a new version of a regulation regarding the setting up of regional headquarters of multinational companies.

The measures include creating a new type of regional headquarters, optimizing the supportive policies for enterprises having their regional presence in the city, and improving the service mechanism for these corporations in terms of investment, cross-border capital use, customs clearance, talent recruitment, and intellectual property rights protection.

Of all the cities on the Chinese mainland, Shanghai has attracted the greatest number of multinational corporations' regional headquarters, with 877 multinational corporations having set up regional headquarters and 523 foreign-funded R&D centers having been established there as of the end of September.

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Policy diagram: Provisions of Shanghai municipality for encouraging multinational corporations to establish regional headquarters