(ECNS) -- Shanghai has become the most popular destination in the Chinese mainland for multinational corporations to set up regional headquarters, said Gu Jun, director of the Shanghai Municipal Commission of Commerce, at a press conference held Sunday.
The city has attracted over 60,000 foreign enterprises, with a batch of new business projects landed in the city, such as wholly foreign-funded shipping agencies, Gu said.
As of September 2022, the city hosted a total of 877 regional headquarters of multinational corporations and 523 foreign-funded research and development centers.
By the end of 2021, foreign investment in actual use in Shanghai exceeded over $300 billion, increasing by $168 billion compared with 2012, and the total amount of Chinese investment in Shanghai's foreign investment record has surpassed $170 billion in the past ten years, said Gu.
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