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International companies rave about great local treatment and opportunities

By YUAN SHENGGAO | China Daily Global | Updated:Nov 4, 2020

Putuo's solid business environment has encouraged multinational companies to step up their development in the Chinese market.

As an example, South Korea-based LS Electric, invested $30 million last year and established LS Electric Investment (China) in Putuo as its headquarters in China.

"Putuo's superior business environment was an important factor for the group in deciding to expand its industrial sector and increase investment," said the company.

LS Electric views Putuo as the foundation for the company's future development and expansion.

Putuo district has provided various preferential policies such as tax relief and financial support, encouraging LS Electric to expand its business there.

A number of merger and acquisition agreements involving energy storage projects, new energy charging station project and urban industrial internet platform, were especially helpful, the company said.

"LS Electric hopes to achieve a win-win situation under the policy of China's increasing reform and opening-up," he said.

French energy giant Schneider Electric opened an office in Putuo district in 2010.

"We were moved by the efficient and practical work of the local government," said Sun Li, enterprise affairs director of at Schneider Electric.

"We were also attracted by its good park planning, convenient transportation facilities and beautiful natural environment."

Schneider Electric will participate in the third CIIE and the company's exhibition area will nearly double the size of its 2019 area. Focusing on energy management and automation business, Schneider Electric will bring cutting-edge digital solutions and successful application cases covering more than 10 industries, including hotels, banking and finance, commercial real estate and medical treatment.

In the face of economic challenges caused by the COVID-19 pandemic, Swedish bolt maker Nord Lock Group said it will expand its office space in Putuo for its future development in the district.

The company entered the Chinese market in 2011 and set up its first Chinese office in Shanghai. According to the company, orders from China now account for more than half of its global growth.

With fast-increasing demand for higher-quality bolts used in cars, machines and construction in China, Nord Lock has rapidly expanded.

Leaders at Italian premium coffee machine and cookware manufacturer De'Longhi Group said the company will upgrade its representative trade office in Putuo into a headquarters by the end of the year.

Gilbert Zong, regional commercial director of China at De'Longhi Appliances (Shanghai), said the professionalism of government officials in Putuo impressed the company.

De'Longhi heads appreciated the enthusiastic responses from the officials and their advice on how to grow De'Longhi's business in China.

"These officials are very familiar with foreign investment, and give very practical advices," Zong said.

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From left: Putuo district has a good business environment and favorable policies. The office of LS Electric's China headquarters in Putuo district.

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