Foreign investors remain buoyant about the Chinese market
The Bay Valley office park in Yangpu has many leading tech firms.
Leading foreign enterprises in Shanghai remain optimistic about the Chinese market and have pledged to keep increasing investment, senior officials of the companies said on Monday.
On Yangpu District's waterfront, where most of the multinational headquarters and top tech firms are located, company executives and government officials hosted a roundtable discussion.
The Yangpu Commerce Commission said it will help foreign enterprises in the Year of the Rabbit.
"China's optimization of COVID response will help the Chinese economy and the automotive market to recover and even accelerate into new development tracks and bring numerous opportunities for the industry," said Gregoire Cuny, president of Vitesco Technologies China.
Vitesco, the world's largest supplier of automotive powertrain control systems, will invest in new-energy technologies such as integrated electric motors, new-material-based inverters, battery management systems, and advanced power electronics.
The company has applied to open a new research and development facility at its Yangpu regional headquarters.
She Duanzhi, Nike China's vice president of government and public relations, said that China was a key market and innovation hub.
"Despite the fact that the market environment has been complex and changed in recent years, Nike is still bullish and will continue to invest in innovation," said She.
Nike's new office building, being built with an investment of over 100 million yuan (US$14.8 million), will be ready this year. Its "Icon Shanghai Innovation Center" is also in the works.
An office park near Shanghai's Wujiaochang subcenter is home to many foreign companies.
Dell's Shanghai Research and Development Center will invest 20 million yuan to upgrade its offices at the Knowledge Innovative Community, demonstrating the company's determination and confidence in becoming rooted in China and Shanghai, according to Chen Chunxi, the center's general manager.
The Dell Center has completed its edge computing lab, which will showcase its newest achievements in automatic driving, video intelligent recognition, machine material categorization, motion posture detection and other high-tech fields in April, Chen said.
Synopsys, a US-based electronic design automation tool provider, created a new software technology company in Shanghai in 2022, despite the pandemic, contributing over 20 million yuan in tax revenues, according to Ge Qun, Synopsys China's board chairman and president.
"We've demonstrated our drive and confidence to establish ourselves in Yangpu and service the Chinese market," Ge added.
A service month aimed mostly at local overseas enterprises was introduced, along with a new batch of measures to "stabilize, benefit, and promote" their development in the city.
Specialized service and expert teams, for instance, will be established to offer customized services in law, finance, management, talent acquisition and labor relations, the Yangpu government announced.
A leading office park near Shanghai's Wujiaochang subcenter is home to many foreign enterprises.
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