A magnet for foreign investment, Shanghai recently certified 30 new regional headquarters of multinationals and 15 foreign-funded R&D centers, including three enterprises based in Minhang district.

Among the newly certified, SK Hynix Semiconductor Technology (Shanghai) Co Ltd and Eurofins EAG Materials Science China were recognized as foreign-funded R&D centers, while SMS Engineering (China) Co Ltd in the metals industry as an MNC regional headquarters.

Rakesh Kumar, vice president and general manager of Eurofins EAG China, stated that the company has increased its local R&D investment to support technology localization, helping advance manufacturing for domestic semiconductor firms. This expansion in the Asian market has contributed to annual business growth of over 25 percent.

In addition to the newly certified companies, three other Minhang-based projects secured agreements worth over $370 million during the event, spanning industries such as biopharmaceuticals and fashionable consumer goods.

Minhang continues to be an ideal investment destination for multinational companies looking to expand their presence in China. In 2024, Minhang saw steady growth in both the quality and quantity of foreign investment — 716 new foreign-invested enterprises were established, with paid-in foreign direct investment reaching $1.33 billion, ranking third citywide.

The headquarters economy thrives here, with 73 regional headquarters of multinational companies and 103 foreign-funded R&D centers, placing the district among the top performers in Shanghai.

Source: Minhang district commission of commerce