Shanghai home to more foreign players

Shanghai is further consolidating its position as an ideal foreign investment destination by certifying 30 regional headquarters of foreign corporations and 10 research and development centers on Friday, alongside factors including its solid economic foundation, business environment and rich talent pool serving as great draws for multinational firms, said senior executives.

As of the end of February, Shanghai was home to 1,027 foreign corporations' regional headquarters and 597 foreign-funded R&D centers, said the Shanghai Municipal Commission of Commerce.

"As a Philippine company starting to develop in Shanghai as early as 1993, we are the witness and beneficiary of China's reform and opening-up," said Li Peiming, executive vice-president of Liwayway (China) Co Ltd.