Pudong streets ahead in attracting company HQs, overseas firms

Pudong has grown to become the first choice location for overseas companies to open businesses in Shanghai.

In the first 10 months of this year, Pudong attracted actual foreign investment worth nearly US$9 billion, a year-on-year increase of 13.8 percent. It accounted for nearly 46 percent of the city's total.

Also, Pudong has attracted 25 multinational companies to establish regional headquarters, building its total number to 384, nearly 47 percent of the city's total.

Generally speaking, Pudong is now home to more than 800 diversified headquarters, including regional headquarters, divisional headquarters and business headquarters, and has become a globally competitive highland of the headquarters economy.

The latest figures were released during an award ceremony held at Shanghai International Convention Center on Wednesday to honor regional headquarters for their outstanding performance in leading industry development, embracing technological innovation and making great economic contributions.

A total of 19 regional headquarters received honors, including Roche Diagnostics, Medtronic and Junshi Biosciences.

Starting from Pudong, Junshi Biosciences has expanded its network to the US, operates four R&D centers in China and the US, and employs more than 2,500 staff worldwide.