Photo shows the stylish interior of the M Social Hotel Suzhou. [Photo provided to China Daily]
Jiangsu province recently unveiled the 14th batch of recognized regional headquarters and functional institutions of multinational corporations, with 19 of them hosted by Suzhou.
These multinational corporations' regional headquarters refer to foreign-invested enterprises that operate regional investment, management, and service functions across provinces through investment or authorized management.
The recognized enterprises in this batch are concentrated in various sectors, including electronics, food, metal, and automotive parts manufacturing.
In 2021, the city released a set of policy measures titled "Several Policy Measures Encouraging Multinational Corporations to Establish Regional Headquarters and Functional Institutions in Suzhou (Trial)," incentivizing foreign-funded enterprises to establish their headquarters in Suzhou and offering financial rewards.
Suzhou has been proactively cultivating this sector, emphasizing initiatives such as headquarters attraction, business-friendly services, institutional innovation, and an open ecosystem to empower foreign-funded enterprises in strengthening their headquarters functions.
Suzhou's commerce department aims to leverage its strongest comparative advantages to accelerate the overall development of the foreign-funded headquarters economy in the city.
The focus includes expediting the establishment of a foreign-funded headquarters economic cluster zone and constructing a more favorable business environment. The city is poised to continue playing a pivotal role in the global business landscape.