Blueprint to attract world-class business
Jing’an has released a set of new measures to support its “global service provider” blueprint — a plan to entice reputable service providers and create a world-class business environment.
The measures reveal multinational service agencies, such as securities, banks and law firms, that settle in Jing’an will receive financial assistance up to 5 million yuan (US$774,500) and annual rental subsidy up to 1.5 million yuan.
If they just set up branches and representative offices in Jing’an, they will also receive up to 1 million yuan. If they expand business and help form an industrial chain in Jing’an, they will receive up to 5 million yuan.
Once they rank in lists such as the Fortune Global 500 and Globalization and World Cities Research Network, they will be awarded up to 5 million yuan.
Commerce chambers and industry associations can receive up to 3 million yuan for settling in Jing’an. Companies and organizations that hold expos, forums and other events, with global influence, can receive up to 1 million yuan.
Furthermore, Jing’an has announced the second group of 15 companies listed in its “global service provider” program.
The biggest names of the first group of 48 companies include French bank BNP, consultancy firm Bain & Co, accounting firm KPMG, advertising agency Ogilvy & Mather, law firm Jones Day, Guotai Junan Securities, SAIC Capital, multinationals Pfizer Investment, L’Oreal China and XNode Innovation Accelerator.
“They have contributed up to 15.8 billion yuan of tax revenues in 2020,” said
Wang Hua, director of Jing’an. “They make major economic contributions to Jing’an.”
The second group include the big four management consulting firms, such as Deloitte, KPMG, PwC and EY. They also include Kuehne & Nagel Limited, NXP (China) Management Ltd, Rouse Consultancy (Shanghai) Limited, Shanghai Baozun E-Commerce Limited and Shanghai Jushuitan Network Technology Co.
Each will receive financial support and enjoy favorable policies related to
employee health care, accommodation and education.
“Multinational companies in Jing’an are deeply involved in local innovation and they actively expand local business. For example, KPMG set up four new branches last year, while TÜV Rheinland has built its world’s second innovation space,” Wang said.
“Besides, local companies are working to expand overseas. Some law firms such as Fangda Partners and Grandall have set several branches abroad.”
Luring investment
Office buildings in Beizhan Subdistrict have formed an alliance to share resources, cooperate and attract more investment. They include Shanghai Riverside Commercial Development Co, CR Land and WeWork.