Pudong to attract more regional headquarters
June 27, 2011 Category Foreign investment, Weekly
The Pudong New Area will establish eight bases with a total area of 2.78 square kilometers to attract more multinational corporations to set up their regional headquarters. Pudong is now home to the regional offices of 164 multinational companies, half of the city’s total. Pudong is offering companies improved customs clearance services, simpler foreign exchange administration, more convenient entry and exit procedures for foreign staff and subsidies for purchasing or renting apartments. Last week, 13 firms signed contracts to erect new headquarters or increase the capital for existing headquarters, including BP. Pudong plans to attract nearly 100 more multinationals in the next five years. In the first five months of this year, Pudong attracted 14 new multinational headquarters.
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