Establishing a Regional Headquarters in Shanghai
June 02, 2003 | BY
clpstaff &clp articlesShanghai aims to become a regional business hub. New rules have been issued that supplement initial steps that Shanghai took in the summer of 2002 to make itself a focus of international business.
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By Yuping Wang, Davis Wright Tremaine, Shanghai
Last summer, the Shanghai municipal government issued the Encouraging the Establishment of Regional Headquarters by Foreign Multinational Corporations Tentative Provisions (the Tentative Provisions, issued July 20 2002). Shanghai has taken the lead among mainland cities in attempting to offer more attractive investment and corporate structures for multinationals that have multiple investment projects in China. The city is keen to set itself up as a viable and attractive competitor to Hong Kong and Singapore for the establishment of corporate headquarters. To further spell out the specifics of regional headquarters, the Shanghai government issued the Implementing Rules to the Tentative Provisions on March 1 2003 (the Implementing Rules).