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New measures to bolster headquarters economy

SIP recently introduced Directive Opinions on Encouraging Development of Business Headquarters in an attempt to further boost local economic development by accelerating the congregation of business headquarters. As is known, headquarters economy plays an important role in guiding industrial development as well as concentrating talents and innovative technologies among other development factors.

SIP began to solicit business headquarters in 2003, when Opinions on Encouraging Multinationals to Set up Regional Headquarters in SIP was issued. Since then, SIP has been sparing no efforts to enhance its support for settlement of business headquarters. Currently, it is home to 34 headquarters of multinationals and domestic enterprises, such as Bridgestone, L'Oreal, JNJ, Adidas, GCL-Poly, Philips, Samsung and Panasonic.  

Likewise, SIP announced a plan to build a headquarters base with an area of about 1.5 sqkm early this year to form a multi-functional cluster for the development of headquarters economy.

International Business Daily
September 6, 2017

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