Shanghai certifies 30 overseas offices amid China’s investment sales pitch

Shanghai certified 30 new regional headquarters of multinational corporations and 15 research and development centres funded by overseas entities on Wednesday – a sign of continued interest in the Chinese financial hub despite an overall decline in the country’s foreign direct investment (FDI).Of the companies whose headquarters and R&D centres were certified this week in a ceremony hosted by the city’s mayor, Gong Zheng, eight are on the Fortune 500 list, according to a statement from the municipal government’s commerce commission.Others came from sectors designated by Beijing as priority areas for future growth, including biopharmaceuticals, integrated circuits and hi-tech equipment.As Chinese authorities attempt to entice foreign firms and win back investor confidence, Shanghai has been central to those efforts, hosting a cumulative 1,084 regional headquarters and 647 R&D centres for overseas companies as of last month.“Shanghai remains one of the preferred destinations for foreign investment and a prime location for multinational corporations in their global industrial and supply chain,” the statement said.The batch of certifications – a semi-regular occurrence for Shanghai, with this week’s ceremony the 42nd of its kind – came as a sustained drop in FDI exerts pressure for China’s cities to demonstrate progress contributing to a national rebound.The country’s actual utilised FDI, which represents realised investments, has contracted for three consecutive years, falling 9.5 per cent year on year in 2025 after a 24.7 per cent decline in 2024, according to the National Bureau of Statistics.