City to Invite More Fortune 500 Companies to Set Up Office in Qianhai

City to Invite More Fortune 500 Companies to Set Up Office in QianhaiCity officials will bring more than 30 Fortune 500 enterprises to Qianhai within this year that will generate more foreign investment of more than US$ 7 billion. Based on a report given by Shenzhen Mayor Xu Qin during the opening of the Fifth Session of the Fifth Shenzhen Municipal People’s Congress that also reviewed city achievements for last year and detailed development plans for 2013.

Mayor Qin said that the 15-kilometer coastal strip would be develop together by Shenzhen and Hong Kong therefore transforming it into a modern service industry hub. They will also actively introduce modern service projects and trading platforms, and at the same time expand channels and provide innovations for overseas businesses to use the RMB.

As of today Shenzhen is home to around 189 Fortune 500 enterprises and Qianhai’s management administration have already signed contracts with 20 Fortune 500 enterprises and 32 other enterprises. Furthermore Shenzhen is striving to attract more than 10 million multi national companies that will be interested in putting up headquarters in Shenzhen. The city will also encourage local enterprises to seek more cooperation with overseas mergers and development along with setting up of research and development centers.

In addition the city will continue to strengthen their international exchanges with the assistance of overseas Chinese professional, consulates and embassies.

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