Shenzhen has started the identification of a seventh batch of regional headquarters for multinational corporations (MNCs) by inviting qualified enterprises to apply and submit relevant materials before April 14.

This marks the first time that Shenzhen has carried out the identification of regional headquarters for MNCs after the city’s revised rules on encouraging MNCs to establish headquarters enterprises became effective Jan. 19. The headquarters enterprise of an MNC refers to the regional headquarters, headquarters-type institutions, and business division headquarters established by the MNC.

According to the rules, the registered capital paid by enterprises applying for regional headquarters shall not be less than US$2 million. The total assets of the parent company shall be at least US$100 million. If an enterprise engaged in the service industry establishes a regional headquarters, the total assets of the parent company shall be at least US$50 million.

For headquarters-type institutions, the paid-up registered capital shall not be less than US$1 million. If established in the form of branch offices, the operating capital allocated by the head office shall be at least US$1 million, and the total assets of the parent company shall not be less than US$50 million. For those applying for business division headquarters, the paid registered capital shall be at least US$2 million, with the total assets of the parent company being no less than US$100 million.

Meanwhile, the enterprise shall have operated in the city for more than a year. The enterprise’s operating income in the previous year shall account for at least 5% of the operating income of the overseas parent company’s business division, or the enterprise’s operating income in the previous year shall not be less than 500 million yuan (US$69.46 million).

According to statistics, up to now, Shenzhen has identified 105 regional headquarters for MNCs in six batches. Corporations include Walmart China, Kareway Health, CR Micro, PWC, Yum! Brands, and Chow Tai Fook. Foreign investment has also maintained its momentum in Shenzhen. There were 8,002 new foreign-funded enterprises established in Shenzhen in 2023, a year-on-year increase of 86.6%.