Agreements on altogether 62 foreign-invested projects were signed recently, with a total investment amount of US$11.95 billion and covering fields, including artificial intelligence, biomedicine, integrated circuit, digital economy and fashion consumer goods.
Among the 62 projects, five will settle down in the Waigaoqiao Bonded Area. Abbott Laboratories Trading (Shanghai) Co Ltd, a global leader in the health industry, will add US$100 million to expand its business in China.
B&R Industrial Automation (Shanghai) Co Ltd is one of the world’s leading manufacturers of automation technology and a leading enterprise of advanced intelligent manufacturing equipment in the Shanghai Pilot Free Trade Zone. The company intends to set up a global research and development center and strive to become a global R&D hub.
Fengmao Trading (Shanghai) Co Ltd is dedicated to the business development of YNAP, one of the world’s high-end e-commerce companies, encompassing nearly 1,000 luxury brands, designer brands and beauty brands, as well as providing e-commerce agency services for luxury brands. The capital hike of 100 million yuan (US$15.43 million) will further expand the group’s business development in China.
Chiesi Pharmaceuticals (Shanghai) Co Ltd is a newly established company that will engage in the wholesale of Chiesi Group’s own pharmaceutical products and the wholesale of Class II medical devices.
Established in 2002, Tuofu International Trade Co Ltd is a wholly-owned subsidiary of ADM, a Fortune 500 firm mainly engaged in the trading of agricultural products.
This time, the company intends to increase its capital by US$180 million to expand the scale of international and domestic trade of relevant agricultural products, and it is expected that its turnover will achieve significant growth after the capital increase.
January 28, 2021
