Shanghai becomes hub for multinational companies' growth, innovation

Multinational corporations are increasingly turning their attention to Shanghai, establishing deeper roots in the region while expanding investments in innovative products and services. Among these companies, Danaher Corp, a leading life sciences firm headquartered in the United States, recently unveiled its QPix FLEX Microbial Colony Picker, entirely invented and produced in Shanghai, for the global market on May 14.

Hu Xiangyu, the president of Danaher China's life sciences platform, emphasized the advantages of Shanghai's consistent and transparent policy environment, propelling Danaher's accelerated investment in Shanghai. Recent endeavors include the establishment of a Cell Culture Medium development base at Cytiva's Shanghai facility in March, a subsidiary of Danaher. An additional investment of 200 million yuan ($27.7 million) has been allocated to expand the Leica China R&D and Manufacturing Site, elevating its status to a key hub for the conglomerate.

Danaher initiated the "Launching China" initiative in 2022, focusing on enhancing local research and development capabilities and manufacturing capacities. The initiative comprises three key components: a local manufacturing base and supply chain, local innovation and commercialization. By the end of 2023, the company had further refined its strategy to meet the growing demand for incubating innovative products derived from research outcomes. The overarching goal is for 80 percent of products sold in China to be domestically manufactured and for 80 percent of materials to be sourced locally.

In parallel, ABeam Consulting, a global consulting firm headquartered in Asia, has witnessed a substantial expansion in its business clientele. Yosuke Nakano, chairman of ABeam Consulting in the Greater China Region, noted the firm's evolution from primarily serving Japanese companies based in China to catering to a growing number of local enterprises. The company's scale has expanded by 2.5 times, with over 600 of its more than 1,100 staff members based in Shanghai.

"If ABeam is a ship making its way to the world, then Shanghai is the home port that we choose with no doubt," said Yang Linan, a spokesperson for ABeam Consulting in Greater China Region in Shanghai.

Gu Yingjie contributed to this story.