Shanghai continues to strengthen its position as a hub for foreign investment, recognizing 30 regional headquarters of multinational corporations and 15 foreign-funded research and development centers at a ceremony on July 11. Three companies based in Changning district participated in the event.

Jung Kwan Jang Shanghai Co Ltd was certified as a regional headquarters of Korea Ginseng Corporation, a Seoul-based health enterprise founded in 1899. Its brand Jung Kwan Jang holds a significant share of the global ginseng market.

Magnum Investment Shanghai Co Ltd is the Asia-Pacific regional headquarters for The Magnum Ice Cream Company, the world's largest ice cream producer and seller. It signed an agreement at the ceremony for a key project in Changning district. This project is expected to enhance the company's presence in the region.

Shanghai Pet&Fresh Network Technology Co Ltd also inked an agreement for a project that will be built in the Hongqiao International Central Business District's Changning section. With $25 million in initial funding, Pet&Fresh aims to build a premium pet food supply chain and expand its retail network.

Changning district remains dedicated to fostering a supportive environment for foreign-funded enterprises, aiming to boost the growth of multinational headquarters. Currently, the district hosts 152 MNC regional headquarters and R&D centers.

Sources: Changning district government, official WeChat account of the General Office of the Shanghai Municipal People's Government at "shanghaifabu"