Pudong area is Shanghai’s and China’s ‘headquarter home’. Resent data show that Pudong is home to more than 400 corporate headquarters. Of these, 265 are regional headquarters of multinational conglomerates. The rest are head offices or regional headquarters of domestic enterprises.
Shanghai Daily reports that before, multinational corporations regarded Shanghai as a production and trading center. “But now the headquarters economy of Pudong has shown the city’s different characteristics.” “For international firms, Shanghai is not only a gateway to the vast domestic market but also a major player in the global economy.”
The report states that a growing number of transnational corporations are taking part in the construction of the China (Shanghai) Pilot Free Trade Zone. “They also act as bridges between domestic and overseas resources and markets.”
The multinational conglomerates and their local subsidiaries in Pudong record good revenues as well; their total revenue added up to more than 960 billion yuan (US$139.47 billion) last year. They also paid 53 billion yuan in taxes.
Further reading on Shanghai Daily