Headquarters economy booms in Pudong

According to the newly released list of global top 100 innovative enterprises, 76 have invested in Pudong, while 100 Fortune Global 500 companies have set up R&D and innovative centers in the district.

Moreover, Pudong is also a hotbed for private corporate headquarters. Juneyao Airlines, a privately-owned Chinese airline based in Shanghai, has outperformed industrial peers regarding profits, flight quality and operating efficiency over the past 12 years since starting operation in 2006, contributing economic revenue of over 5 billion yuan to Pudong.

The growing number of headquarters of multinational and domestic conglomerates and Pudong's allocation of resources mirrors the optimized business environment in the district.

As an effort to provide convenience and professional services for enterprises, Pudong set up a coordination mechanism in 2012 integrating more than 10 departments including customs, market supervision, entry and exit procedures, intellectual property rights, and foreign exchange management, issuing over 100 measures.

Georges Sanchez, head of Fragrance Ingredients Strategic Projects at Givaudan, a Swiss manufacturer of flavors and fragrances, hailed Pudong's business climate as "open, transparent and convenient", saying it helps foreign-funded enterprises to streamline business registration, reduce paperwork and eliminate the need to deal with multiple departments and offices.