Eight companies were newly added to Shenzhen’s list of certified multinational company (MNC) regional headquarters enterprises, increasing the total number to 43, according to an announcement published on the website of the Shenzhen Municipal Commerce Bureau on Monday.
Among the eight are PricewaterhouseCoopers Consultants (Shenzhen) Co. Ltd. and Towngas Investment Co. Ltd.
They are the third batch of certified MNC regional headquarters firms since the Shenzhen government unveiled a spate of measures last year to incentivize more MNCs to establish their regional headquarters in the city in an effort to boost headquarters economy.
The recognized MNC headquarters firms will receive rewards based on a tiered system, ranging from 3 million yuan (US$ 446,435) to 6 million yuan.
In 2021, the city presented certificates to Walmart, Kareway Health Investment Group and Shenzhen Smoore Technology Ltd., among other foreign-funded enterprises.
Shenzhen has been ramping up efforts to enhance business environment to attract foreign investment. According to statistics, nearly 6,000 overseas-invested enterprises were set up citywide in 2021, up by over 30% year on year.
Shenzhen is currently home to enterprises from over 160 countries and regions, including nearly 300 Fortune 500 enterprises, and has approved over 100,000 direct foreign investment projects.
In 2021, the city’s actual use of foreign investment exceeded a high of US$10 billion. In the first quarter of this year, it actually utilized over US$2.1 billion in foreign investment, up 32% year on year.
MNC regional headquarters refer to the only head office set up in Shenzhen by a parent company registered offshore via investment or authorization, with the headquarters performing the functions of management and services provision for enterprises in more than one country (or region), as per the measures.
MNCs may establish regional headquarters in the form of enterprise with independent legal person status such as wholly owned investment-type or management-type company.