Pudong New Area in East China's Shanghai has issued certificates to 11 newly-recognized regional headquarters of multinational corporations (MNCs) and four research and development (R&D) centers at a signing ceremony for projects with foreign investment in Shanghai on July 18.

Twenty-seven foreign-funded projects, with a total investment of $3.22 billion, signed cooperative deals with the Pudong government, accounting for about 32 percent of Shanghai's total number.

A total of 31 MNC regional headquarters and 13 R&D centers in Shanghai were certified by the municipal government, and 77 foreign-funded projects with a combined investment of $10.24 billion were signed at the event, demonstrating that Shanghai is still a hot investment destination for MNCs.

These newly-signed foreign-funded projects mainly cover Shanghai's key areas, such as biomedicine, electronic information, automobiles, fashion consumer goods, as well as the digital economy. Of these projects, 10 are backed by Fortune Global 500 companies.

According to official data, from January to May this year, a total of 2,096 foreign-funded enterprises were established in Shanghai, a year-on-year increase of 78.7 percent. The city's actual use of foreign investment also grew to reach $11.17 billion, an increase of 17.3 percent year-on-year. As of June 30, the total number of MNC regional headquarters in Shanghai had reached 922, and the cumulative number of foreign R&D centers had totaled 544.

Shanghai continues to maintain its position as the most concentrated city for MNC regional headquarters and foreign-funded R&D centers on the Chinese mainland. Shanghai remains one of the preferred investment destinations for foreign investors and a top choice for multinational companies to establish their global industrial chain layout.

Shanghai is still one of the most attractive destinations for foreign investment worldwide. [Photo/WeChat account: pdnews]