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Almost 400 MNCs have their Asia HQs in
Shanghai
Tuesday November 06, 2012 12:08:13 PM,
EFE
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Shanghai:
Shanghai, China's commercial and financial capital, intends to
increase its international clout as a strategic location for
multinationals, and almost 400 firms have already transferred
their headquarters for the Asia-Pacific region here.
Traditionally, MNCs have located their regional HQs in Hong Kong,
Tokyo or Singapore.
But according to figures from the municipal trade commission
published Monday in the Shanghai Daily, 393 MNCs already have
their main Asia offices in this metropolis of more than 24 million
people.
The commission says that 25.4 percent of the MNCs are European,
32.6 percent are American and 23.7 percent are Japanese.
China has set a goal of transforming Shanghai into one of the
world's main commercial, financial and logistical centers by 2020,
operating in all these sectors according to international
standards and acquiring a global influence comparable to that
enjoyed by New York, London or Hong Kong.
Among the new measures the government is implementing to achieve
that goal will be a subsidy of 8 million yuan ($1.27 million) over
three years to help foreign MNCs set up their regional
headquarters here, as well as tax incentives for opening R&D
centers.
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