HONG KONG, March 18, 2024 /PRNewswire/ — On 27th February, the official certification ceremony was held in Shanghai for the 38th batch of regional headquarters, research and development (R&D) centers of multinational corporations (MNCs), as well as the promotion of global partners for foreign investment. Gong Zheng, the Mayor of Shanghai, presented certificates to 34 newly designated regional headquarters of MNCs, 17 foreign-funded R&D centers, and the first batch of 10 global partners for foreign investment promotion. He also witnessed the signing of 63 newly added foreign-funded projects. China Renaissance served as one of the first batch of global partners to promote foreign investment in Shanghai. Kevin Xie, Chairman and CEO of China Renaissance, was invited to attend the ceremony as a guest and received a certificate from Mayor Gong Zheng.
The first batch of global partners for foreign investment promotion in Shanghai included 10 renowned institutions such as the Bank of China’s Shanghai branch, Ernst & Young, and CBRE. The selection of the first batch of global partners for foreign investment promotion was based on evaluations and assessments by the Shanghai Municipal Commission of Commerce, considering factors such as the reputation of the institutions, their investment promotion capabilities, and service capabilities of their platform.
Shanghai is at the forefront of China’s reform and opening-up, as well as a leader in innovation and development. As the national economic center of China, Shanghai registered record high actual utilization of foreign investment totaling US$24 billion in 2023. As of the end of January 2024, Shanghai was the home to 962 MNCs regional headquarters and 563 foreign-invested R&D centers. Shanghai continues to be one of the preferred investment destinations for foreign businesses and a preferred location for the global supply chain and industrial operations of MNCs.
As a comprehensive financial services institution rooted in China with a global perspective, China Renaissance has always been committed to exploring, supporting, and accompanying outstanding innovative entrepreneurs in the China market. It has played an active role in connecting domestic and foreign capital and promoting foreign investment. Leveraging its platform attributes and abundant global resources, China Renaissance has actively introduced high-quality enterprises that align with the regional industrial development direction of Shanghai, while providing professional support and assistance to local enterprises in accessing domestic and international capital markets.
In the future, China Renaissance will continue to leverage its profound understanding of international and capital market operations to inject capital vitality into the industrial development of Shanghai and various regions throughout the country. Such effort aims to enhance the resilience of strategic industry clusters and contribute to safeguarding the financial sovereignty of China and fostering a robust financial system.
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