City announces awards for innovative corporate headquarters

Shanghai presented awards to 49 companies on Thursday for their innovative enterprise headquarters.

They included Shanghai Junshi Biosciences, IM Motors Technology, Shanghai Shouqianba Internet Technology and Ximalaya Technology.

The headquarters cover key fields such as integrated circuits, bio-medicine, artificial intelligence and the digital economy, and 26 of them are listed companies.

The compound growth rate of the operating income of 15 enterprises in the past three years exceeded 30 percent.

The recognition and incentive management measures for Shanghai innovative enterprise headquarters was released in 2023, aiming at fostering high-growth enterprises and R&D institutions, with awards to 40 recipients.

The recognition process involves an initial review by district authorities, followed by evaluation and approval by municipal departments.

Recognized enterprises can gain access to various support measures, including talent recruitment, project prioritization, and streamlined administrative services.

Financial incentives for award recipients include up to 5 million yuan (US$687,981) in startup funding for new entities with registered capital over 100 million yuan; three-year rent subsidies for eligible headquarters; and sales-based rewards of 5 million yuan, 3 million yuan, or 2 million yuan for reaching sales milestones of 500 million yuan, 1 billion yuan, or 1.5 billion yuan, respectively.

In 2024, the number of high-tech enterprises exceeded 25,000, with industrial strategic emerging industries completed output value reaching 1.7 trillion yuan, accounting for 43.6 percent of scale of the city's industry.

The scale of the three leading industries of integrated circuits, bio-medicine and artificial intelligence reached 1.8 trillion yuan last year, according to official statistics.