Transnational com panies encouraged to set up R&D centers in Shanghai

Transnational com panies encouraged to set up R&D centers in Shanghai

上海鼓励跨国公司在沪设立研发中心

Shanghai municipality in east China will encourage combination of utilization of foreign funds with independent innovation capacity,and boost the work from three aspects,said an official with the Shanghai Municipal Commission of Commerce of Shanghai.

1.To build up a more open-up innovation system.The city will better the policy on encouraging foreign-funded research and development (R&D)centers,provide conventience for R&D centers in import and export management,the customs clearance,inspection and quarantine,and promote transnational companies to set up high-end R&D centers engaging in global R&D centers to participate in Shanghai's scientific research projects,and supports eligible foreign-funded enterprises and local enterprises and research institutes to cooperate in applying for stateclass scientific and technological development projects,innovation capacity building projects,and applying for state-class technical center certification.

2.To encourage transnational companies to strengthen high-ranking strategic and high-end cooperation with Shanghai's companies in the fields of domestic market,manufacturing linkage and global market,R&D and design,and push Shanghai enterprises to join in global supply network of transnational companies,and utilization of foreign funds in introducing advanced technology.

3.To encourage foreign-funded companies in traditional industries to carry out transformation and upgrading.It supports foreign-funded enterprises to realize transformation and upgrading,encourages foreign investment in renewable energy,electricity generating,water treatment and garbage disposal,encourages foreign investment in remanufacturing,and encourages foreign-funded enterprises to conduct transformation of their original production forms by using energy conservancy technology and low-carbon technology.

By the end of October of this year,Shanghai saw founding of 316 R&D centers,becoming one of the cities in China with the biggest number of foreign-funded R&D center,of which 50 are founded by world top 500 companies listed by Fortune.