A number of high-quality cooperation projects and intentions were announced during a promotion event for multinational enterprises held on Sept 17 in Shanghai, which is expected to further consolidate the city's position as a magnet for global capital.

The partnerships cover a diverse range of areas, from multinational corporate headquarters to technology innovation platforms and manufacturing bases.

"As China's largest economic hub, Shanghai has served as the forefront of China's reform and opening-up, and an international metropolis deeply connected to the world," said Zhu Zhongming, acting mayor of Shanghai, during the event.

According to Zhu, Shanghai is home to more than 80,000 foreign-invested enterprises, which are important participants and witnesses of the city's economic and social development.

"We warmly welcome multinational companies to invest and develop in Shanghai. We are ready, with utmost sincerity, to provide every investor with the most efficient services, the most effective policies, and the best environment, working together to create an even better future," Zhu said.

More than 220 entrepreneurs and representatives of industry organizations and investment institutions from 24 countries and regions attended the meeting.

Xi Guohua, chairman of CITIC Group, said CITIC will deeply integrate into Shanghai's development as an international center of economy, finance, trade, shipping, and scientific and technological innovation.

"By investing in Shanghai with more innovative elements, we aim to partner with various parties to achieve breakthroughs in sectors such as AI and advanced manufacturing, integrate financial resources, and improve investment efficiency," Xi said.

To date, Shanghai has certified more than 1,100 regional headquarters of multinational companies and 670 foreign-funded R&D centers, according to Zhu.

The promotion event was part of a two-day visit by multinational corporations to Shanghai, jointly hosted by Invest Shanghai and CITIC Group. The event aimed to create a platform for Chinese and foreign companies to communicate and collaborate, fostering the gathering of international resources, high-quality projects, and top-tier elements in Shanghai.

Source: China Daily