Shanghai home to 962 regional HQs, 563 foreign-funded R&D centers by Jan 2024

Xinhua

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High-rises dominate the skyline on both sides of the Huangpu River in Shanghai. [Photo by Gao Erqiang/China Daily]

SHANGHAI - Shanghai added 34 regional headquarters of multinational companies, 17 foreign-funded research and development (R&D) centers, and 63 foreign investment projects on Tuesday, said local authorities.

Meanwhile, the first batch of 10 "global partners for foreign investment promotion" were registered in the city.

A signing ceremony for the various deals was held in the city on Tuesday.

The 63 newly signed foreign investment projects posted a total investment of some $6.47 billion, covering key industries like biomedicine, electronic information, automobiles, digital economy and so on, said the Shanghai Municipal Commission of Commerce.

Statistics show that Shanghai's actual use of foreign capital in 2023 reached $24 billion, a record high. As one of the world's most attractive destinations for foreign investment, by the end of January this year, Shanghai had 962 regional headquarters of multinational companies and 563 foreign-funded R&D centers.