Shanghai certifies 30 overseas offices amid China’s investment sales pitch
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Shanghai certified 30 new regional headquarters and 15 R&D centers of multinational corporations on Wednesday, signaling continued foreign interest despite China's declining FDI. The certifications, the 42nd such event in Shanghai, included eight Fortune 500 companies and firms in priority sectors like biopharmaceuticals and hi-tech equipment. This move is part of China's effort to attract foreign investment and restore investor confidence, with Shanghai playing a central role. As of last month, Shanghai hosted over 1,000 regional headquarters and 647 R&D centers for overseas companies. The certifications aim to demonstrate Shanghai's contribution to a national rebound amid a sustained drop in China's utilized FDI over the past three years.
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