Bespoke services for multinational corporations on North Bund

Editor's Note:

Shanghai, a well-established destination for investment from home and abroad, is keen to ride the wave of economic revitalization and attract more quality investments with better policies and services.

Ti Gong

A new customized service scheme for the headquarters of multinational corporations in Shanghai was launched in Hongkou District on Monday as part of the city's efforts to further optimize its business environment for overseas investors.

The Express Service for MNC's Regional Headquarters was launched at the North Bund in Hongkou, mainly for the MNCs involved in the commerce, finance, shipping and technology sectors based on the Huangpu River waterfront.

Under the scheme, specialists would offer exclusive services, set up specialized service channels and invite expert panels to support the business operations of the MNCs, according to the district government.

The government will also offer support on registration, business expansion, capital flow, talent introduction, customs clearance, employees' entry and exit and children's education.

"Hongkou has attracted MNCs from 70 countries and regions and 10 MNC headquarters were newly set up in Hongkou this year," said Chen Shuai, deputy director of Hongkou. The district's foreign investments increased by about 8 percent on year between January and March of this year, he revealed.

The first batch of MNCs in Hongkou were certified as regional headquarters and foreign-funded R&D centers on Monday.

In addition, four Hong Kong companies, attracted by an investment promotion campaign by Hongkou in Hong Kong in February, inked deals to launch their key projects on the North Bund.

Leading global food and beverage company Kraft Heinz became the first certified MNC regional headquarters in Hongkou.

The company relocated its Asia regional headquarters from Singapore to Shanghai and officially settled in Hongkou at the end of 2021.

"We are convinced that Hongkou is the right choice, and our business will grow together with Hongkou," said Fred Freire, president of Kraft Heinz Asia.

"We are pleased to see that the Hongkou government has taken a series of initiatives to further deepen the breadth and depth of communication with foreign companies," Freire said.

He praised the business environment in Hongkou as "world-class, market-oriented, accountable under rule of law and international."