Jing'an unveils initiative to support transformation of foreign-funded enterprises

​An aerial view of Jing'an district. [Photo/Shanghai Observer]

Shanghai's Jing'an district launched a new initiative on March 23 to help foreign-funded enterprises transform and upgrade their development capabilities.

The initiative introduces eight policies across four core areas: research and development innovation, headquarters construction, two-way opening-up, and full-cycle services.

Designed as a comprehensive, policy-backed framework, it aims to move beyond the traditional model in which foreign-funded enterprises in Shanghai focus on sales rather than R&D.

The measures encourage multinational companies to establish R&D centers and innovation laboratories in the district and to open up the entire industrial chain. Enterprises are further encouraged to strengthen composite functions such as global strategic planning, resource allocation, and fund settlement, reinforcing their role as regional or global hubs.

At the same time, foreign-funded enterprises are supported in deeply integrating into the Chinese market while collaborating with Chinese counterparts to expand overseas, forming a new pattern of two-way empowerment.

The initiative also upgrades a range of dedicated services, such as talent attraction and cultivation, cross-border data and financial services, and bonded transactions, to better meet the varied needs arising from the transformation of foreign investment.

During the 14th Five-Year Plan period (2021-25), the district's foreign-related economy ranked first among all districts in Shanghai for 10 consecutive years.

The district is now home to 148 multinational company headquarters and more than 6,100 foreign-funded enterprises, leading the city in headquarters economic density and global brand concentration.

The new policies focus on leading industries such as biomedicine, beauty and health, and high-end consumption.

Jing'an has attracted one-third of the world's top 50 biopharmaceutical companies, along with beauty giants such as French multinational L'Oreal.

Looking ahead, the district will leverage its strong industrial ecosystem, targeted policy tools, and professional business services to address key transformation challenges facing foreign-funded enterprises, respond efficiently to their development needs, and provide fertile ground for them to deepen their presence in the Chinese market and advance innovation and upgrading.