According to official figures from the 37th International Business Leaders Advisory Council for the Mayor of Shanghai, the city is home to nearly 80,000 foreign companies, 627 foreign research and development centers and 1,055 regional headquarters of foreign companies as of Oct 12. Meanwhile, more than 4,000 foreign companies were established in the city in the first nine months of the year.

"Shanghai has consistently been one of the most favored investment destinations for foreign businesses. Since the start of the 14th Five-Year Plan (2021-25), the city has attracted more than $98 billion in actual foreign investment. On average, more than 5,700 new foreign enterprises are established annually," said Luo Zhisong, chief economist at the Shanghai Municipal Commission of Commerce.

According to global companies operating in Shanghai, there are numerous reasons for choosing the city. These include Shanghai's commitment to embracing future trends such as digitalization, green and low-carbon development, new energy and artificial intelligence; its well-developed manufacturing infrastructure; a rapid influx of global talent from cutting-edge fields; a strategic location; and a continuous improvement of government services and urban environment. The consensus is that investing in Shanghai — known for its openness, inclusiveness, stability and innovation — is investing in future growth opportunities.