More Multinationals Locate R&D Centers in Shanghai

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Last updated at: (Beijing Time) Thursday, December 13, 2001

More Multinationals Locate R&D Centers in Shanghai

Over 40 multinationals, including IBM, Microsoft, Alcatal and Bayer, have set up their regional or global research and development (R&D) centers in Shanghai, the biggest industrial and commercial center in China.

The four Shanghai R&D centers were established over the past month.

Officials with the Overseas Investment Commission of the Shanghai municipal government say 14 of the centers are global.

Meanwhile, over 200 Chinese companies have also set up their R&D centers in the city, including 20 of national importance.

Consistent two-digit growth over the past decade in Shanghai, a vast Chinese market, rich human resources and an improving investment environment have made Shanghai an attractive place for foreign investors.

About 260 of the world's top 500 multinationals have entered Shanghai during the past two decades.

Alcatal, which set up China's telecommunications joint venture with controlling shares last month, is committed to establishing one of its global R&D centers in Shanghai employing about 3,500 employees.

Zhongxing Telecom Company of China is also building a Shanghai R&D center which will employ 3,000 people.

China Telecom Group Co., China's dominating telecommunications giant, has also set up its R&D center in Shanghai.

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