Shanghai unveils top 100 foreign-invested firms for 2022

Huang Yixuan Yang Jian
The top 100 foreign-invested enterprises in Shanghai were evaluated based on their operating revenue, import and export volume, tax contributions and job creation, respectively.
Huang Yixuan Yang Jian

Shanghai on Thursday announced the city's top 100 foreign-invested enterprises for 2022, recognizing companies that have excelled in various aspects of their operations.

These enterprises were evaluated based on their operating revenue, import and export volume, tax contributions and job creation, respectively. The lists showcase the remarkable contributions of foreign companies to Shanghai's economy and highlight the city's attractiveness as a global business hub.

A total of 255 foreign-invested enterprises made the four lists. Topping the lists were Apple Computer Trading (Shanghai) Co for operating revenue, Tech-Com (Shanghai) Computer Co for import and export value, Porsche (China) Motors Ltd for tax contributions, and Protek (Shanghai) Ltd for job creation, all maintaining their positions from the previous year.

The top 100 FIEs collectively generated an impressive operating revenue reaching 3.488 trillion yuan (US$479.9 billion), accounting for about 34.23 percent of the total revenue of all FIEs in Shanghai.

Furthermore, these enterprises facilitated a total import and export volume of over 1.225 trillion yuan, representing nearly half of the overall figure of foreign enterprises in the city. In terms of tax payment, the top 100 enterprises contributed a combined 226.331 billion yuan, constituting around 36.49 percent of the FIEs' total.

Employment-wise, the top 100 FIEs provided opportunities to 451,242 individuals, accounting for approximately 18.3 percent of the total number of employees in all FIEs participating in the annual report. This significant contribution to job creation showcases the positive impact of foreign investment on Shanghai's employment market.

Analyzing the distribution of investors by country or region, it is observed that the United States had the highest number of companies on the lists, with a total of 79 enterprises. Japan and Germany secured second and third position, with 32 and 28 companies, respectively.

Regarding the industrial sector, wholesale and retail trade, manufacturing, and leasing and business services emerged as the top three sectors among enterprises on the lists. Of these, the manufacturing sector stood out, showcasing robust growth in average operating revenue, import and export volume, tax contributions and job creation.

"This highlights the resilience and importance of the manufacturing sector in Shanghai's economic landscape and reinforces its positive contribution to the city's overall development," said Huang Feng, president of the Shanghai Foreign Investment Association.

As for their geographical distribution within Shanghai, meanwhile, more than half of the top 100 enterprises were located in the Pudong New Area. Specifically, 135 companies were registered in this region, with a significant 117 of them being located in the Shanghai free trade zone. Huangpu District and Jing'an District followed closely behind, with 22 companies each.

Shen Shanzhou, director of Huangpu, introduced the district's efforts to optimize the foreign investment environment and enhance its attractiveness to foreign investors at the meeting.

Huangpu, as the "heart, window and name card" of Shanghai, has fostered a positive trend of mutual achievements and benefits with foreign-funded enterprises, he pointed out.

Shen said the district will continue to provide "comprehensive, considerate and comfortable" services to ensure that foreign-funded enterprises in Huangpu have the space to grow, the confidence to invest and a predictable future.

Xu Yang, president of Albemarle China, an American specialty chemicals firm, said the company has become a trusted partner in China's electric vehicle, oil and gas, pharmaceutical, and electronics industries. The company set up its regional headquarters in Huangpu in 1992.

Of note, this year marks the 10th anniversary of the establishment of the Shanghai FTZ, and the companies within the zone have showcased remarkable development among the top 100 enterprises in Shanghai, Huang noted.

Their performance in the four aspects has been impressive overall, contributing to more than half of the top 100 FIEs' combined figures, respectively, in terms of income, imports and exports, and tax payment, while accounting for 30 percent of the jobs created.

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