More firms setting up regional headquarters in Shanghai

Multinational companies have accelerated the pace with which they have set up their regional headquarters and research centers in response to the Shanghai government's resolution to further develop its economy.

The municipal government granted certificates on Wednesday to 35 multinational companies based in Shanghai to acknowledge the establishment of their regional headquarters and research centers in the city. It is the 31st time that the government has granted such recognition since 2002.

Among the 35 companies, 24 specialize in manufacturing, while the remaining 11 are modern service providers.