70 firms recognized as trade headquarters enterprises

Shenzhen’s commerce bureau announced the list of the first batch of the city’s trade-oriented headquarters enterprises for 2024 Wednesday.

Well-known enterprises such as Harmony World Watch Centre Co. Ltd., Janezt Co. Ltd., TCL China Star Optoelectronics Technology Co. Ltd., Mindray, and Deppon Express are among the 12 recognized enterprises this time, Shenzhen Special Zone Daily reported.

Up to now, the city has identified 70 trade-oriented headquarters enterprises, including Walmart China, Shenzhen Eternal Asia Supply Chain Management Co. Ltd., Telling Telecommunication, Shenzhen Aisidi Co. Ltd., and CR Vanguard.

Trade-based headquarters enterprises refer to domestic and foreign enterprises’ headquarters in Shenzhen, with procurement, distribution, marketing, settlement, logistics, and other single or integrated trade functions. These include traditional and platform-based trade enterprises engaged in transaction aggregation or supporting services.

In 2022, the municipal commerce bureau officially launched the application process for trade-based headquarters enterprises as a way to spur the pull effect of consumer spending on Shenzhen’s economic development, enhance global resource allocation, and help the city accelerate the construction of a globally important trade center.

In June this year, Shenzhen rolled out a series of measures in a bid to promote the innovative development of commercial and trade enterprises.

This initiative highlights the importance of fostering the growth of trade-oriented headquarters enterprises and attracting both domestic and international wholesale, retail, accommodation, and catering businesses to establish their global, regional, and functional headquarters in Shenzhen. These headquarters would have single or comprehensive trade functions, including procurement, distribution, marketing, settlement, and logistics.

The measures also detail that wholesale enterprises achieving annual sales of a specified threshold and fulfilling certain conditions will receive tiered rewards.

At present, the municipal commerce bureau is accepting applications for the identification of the second batch of the city’s trade-oriented headquarters enterprises this year. The deadline for applications is Aug. 8.