Shanghai Issued New Regulations to Encourage Multinational Companies to Establish Regional Headquarters in Shanghai

On 8 August 2012, the Shanghai Municipal Government published the Opinions on Implementation of the Provisions on Encouraging Multinational Companies to Establish Regional Headquarters in Shanghai (“New Opinions”). The New Opinions took effect on the same day and have a validity period until 30 June 2017. They have been formulated jointly by the Shanghai Commission of Commerce and seven other municipal authorities. Already for several years, the Shanghai Government has been encouraging multinational companies to establish their regional headquarters (“RHQs”) in Shanghai. Back on 3 December 2008, for this purpose already the Opinions on Implementation of the Provisions on Encouraging Multinational Companies to Establish Regional Headquarters in Shanghai had been enacted (“Old Opinions”) which offered various incentives and subsidies to RHQs.

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