18 foreign-funded companies, including ST Microelectronics (China), Byte (China), Whirlpool (China), and Goodyear Tire & Rubber, etc. have recently been approved by Shanghai municipal government to be regional headquarters of multinationals. Eight of them are listed in the world's top 500.

104 foreign-funded Shanghai-based companies specialized in investment or management have been identified as regional headquarters of multinationals. 33 of them are set up by those in the world's top 500.

Shanghai's economy has kept rising at a two-digit pace for 13 years in a row. As its foreign-oriented economy has achieved tremendous progress these years, Shanghai is one of the places in China which are most attractive to multinationals and generate best returns on investment. It is also one of the most favored destinations for foreign investment.

The Shanghai municipal government has staged the strategy and initiatives encouraging multinationals to headquarter in Shanghai, which is expected to facilitate the operation of regional headquarters funded by multinationals. In the mean time, Shanghai continues to absorb rising foreign capital influx into the city.

By People's Daily Online