Connect with us

Technology

Shanghai leads in attracting global companies

Published

on

SHANGHAI, July 29, 2024 /PRNewswire/ — A news report from english.shanghai.gov.cn:

Shanghai proved its appeal as an ideal foreign investment destination as 30 regional headquarters of multinational corporations and 15 research and development centers were certified during a ceremony on July 25, according to official sources.

As of the end of June, Shanghai is home to 985 multinational corporations’ regional headquarters and 575 foreign-funded R&D centers, making the city the most attractive destination for multinational corporations in the Chinese mainland, said Shanghai Fabu, the official WeChat account of the Shanghai municipal government.

“The R&D center that we have just got the accreditation for is our global R&D center, and it is the largest innovation hub in the entire Otis network,” said Sally Loh, president of Otis China.

Shanghai is a very vibrant, dynamic mega city that really provides businesses like ours… a very friendly environment. The certification that we have just received this morning as a global R&D center, is really an indication on the innovation capabilities that we have as well as the richness of the talent pool that is available in Shanghai,” Loh explained the reason why the US-based manufacturer and maintainer of elevators and escalators choose Shanghai as the location for the center.

According to Loh, the nearly five hundred engineers at the center will serve not only the China market, but also the rest of the world.

“Imported products used to be regarded as good. But now, it is the other way around. Products made in China represent value price, high quality and best experience,” said Andy Guo, managing director of China with US-based Kimberly-Clark.

According to Guo, in the past decade, Kimberly-Clark made about 13 million yuan of investment per year in research and development in China, and the figure reached 25 million yuan in the past two years, higher than the global average.

“Investment in innovation is supported by the great market potential. Considering its gigantic middle-income group, and the abundant amount of people becoming middle-income group, it is the largest growth market for the future,” said Guo.

“Despite the challenges, we have reached agreements to add more than 50 new centers in China in the past two years, and we have a more ambitious plan of opening about 100 new centers per year,” said Edward Hu, country general manager of London-listed workspace provider International Workplace Group (IWG).

According to Hu, the group, which entered the Chinese market as early as 1995, expects to operate nearly 2,000 centers in total over the coming decade.

“Since our entry into the China market in 2003 by establishing a factory in the city, we have constantly felt the international and market-oriented business environment that Shanghai offers for us. We have deeply felt the strong support of the local government, and that has enabled us to settle down and grow,” said Wu Yin, vice-president of marketing in China with US-based wellness company Melaleuca.

Related stories

Shanghai still a top choice for multinational companiesRegional HQs of multinational companies encouraged to establish treasury centers in PudongShanghai MNCs’ regional headquarters, R&D centers can apply for development capital

 

View original content:https://www.prnewswire.com/news-releases/shanghai-leads-in-attracting-global-companies-302208446.html

SOURCE english.shanghai.gov.cn

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Acron Aviation and Deutsche Aircraft Sign Long-Term Partnership for Advanced Flight Recorder and Standby Solutions for the D328eco® Programme

Published

on

By

ST. PETERSBURG, Fla., July 21, 2026 /PRNewswire/ — Acron Aviation and Deutsche Aircraft have announced a long-term partnership and the signing of a supply agreement for Flight Recorder and Standby solutions for the next-generation D328eco, a regional turboprop that is designed, certified and industrialised in Europe.

Designed to meet evolving operational and regulatory requirements, Acron Aviation’s 25-hour Recorder and Standby solutions combine proven reliability with advanced technology to enhance aircraft safety, operational efficiency and lifecycle performance. This directly supports Deutsche Aircraft’s vision to deliver a regional aircraft that meets the highest performance and certification standards, while enabling sustainable flight operations.

The agreement secures the supply of flight recording and standby instrumentation systems for the D328eco programme, further solidifying Deutsche Aircraft’s industrial and supplier ecosystem as the aircraft progresses towards entry into service.

“This agreement represents more than a supplier relationship; it is the beginning of a long-term partnership built on shared values, innovation and a commitment to advancing regional aviation,” said Ron Nye, President of Acron Aviation. “We are proud to support Deutsche Aircraft and the D328eco programme with our trusted Recorder and Standby solutions. As one of Europe’s most forward-looking aircraft manufacturers, Deutsche Aircraft is helping redefine sustainable regional flight, and we are delighted to contribute technologies that support the programme’s operational integrity and long-term success.”

This partnership reflects a mutual commitment to strengthening aerospace supply chains through long-term collaboration and innovation. By pairing Deutsche Aircraft’s next-generation regional aircraft with Acron Aviation’s expertise in safety-critical avionics, both companies are shaping the future of regional aviation.

“Building strong, long-term relationships with suppliers is fundamental to the success of the D328eco® programme,” said Patricia Ferrari, Vice President Supply Chain at Deutsche Aircraft. “Acron Aviation’s extensive expertise in safety-critical avionics systems and their proven track record makes them an important partner as we continue to mature our industrial ecosystem. This agreement reflects our shared commitment to quality, innovation and delivering a next-generation regional aircraft that meets the evolving expectations of operators and regulators worldwide.”

The D328eco is a next-generation 40-seat regional turboprop developed and industrialised in Germany to meet the growing demand for efficient and sustainable regional connectivity. Building on the proven heritage of the Dornier 328, the aircraft integrates advanced technologies to reduce emissions, improve fuel efficiency and enhance economic performance. Supported by a growing network of strategic industry partners, the programme continues to move forward to deliver a modern regional aircraft tailored to the needs of airlines, passengers and communities.

NOTE TO EDITORS

About Acron Aviation

Acron Aviation, an Acron Technologies company, is strategically aligned to deliver world-leading commercial aviation solutions designed to serve aircraft operators and airframe manufacturers across the globe. Our expertise extends to multiple facets of commercial aviation from OEM certified avionics to state-of-the-art simulation devices, best-in-class pilot training and market-leading flight data analytics. With a global footprint, we are uniquely positioned to deliver comprehensive, cutting-edge solutions that enhance our customers’ operations and further our mission of innovating to create safer skies.

For more information visit acronaviation.com.

About Deutsche Aircraft

Deutsche Aircraft is a German manufacturer of regional aircraft, building on the Dornier legacy to develop modern, efficient and sustainable aviation solutions. The company is advancing the D328eco, a next‑generation 40‑seat turboprop designed to improve fuel efficiency, reduce emissions and enhance operating economics for regional airlines.

As the type certificate holder for the existing Dornier 328 turboprop and jet fleet, Deutsche Aircraft aligns long‑standing technical expertise with continuous innovation. The industrialisation of the D328eco is centred at the company’s new carbon‑neutral, fully digital, final assembly line at Leipzig/Halle Airport, a facility designed to produce up to 48 aircraft per year and create 250 to 350 highly skilled jobs.

Full production readiness is planned for early 2027. The D328eco will progress through its flight test campaign, beginning with the first flight in 2026, with entry into service planned for Q4 2027.

View original content to download multimedia:https://www.prnewswire.com/news-releases/acron-aviation-and-deutsche-aircraft-sign-long-term-partnership-for-advanced-flight-recorder-and-standby-solutions-for-the-d328eco-programme-302829843.html

SOURCE Acron Aviation

Continue Reading

Technology

Corporate Governance Asia recognizes SM Group with 24 awards

Published

on

By

PASAY CITY, Philippines, July 21, 2026 /PRNewswire/ — The SM Group received 24 awards from Hong Kong-based publication Corporate Governance Asia, underscoring the conglomerate’s performance in governance, sustainability, investor relations, and corporate leadership amid an increasingly complex global operating environment.

SM Investments Corp. (SM Investments), the parent company of the SM Group, received eight awards, including the Sustainable Asia Award, Asia’s Best CSR, Best Corporate Communications, and Best Investor Relations.

SM Investments President and Chief Executive Officer Frederic C. DyBuncio was named Asia’s Best CEO (Investor Relations), while Executive Vice Presidents Erwin G. Pato and Franklin C. Gomez were recognized as co-awardees for Asia’s Best CFO (Investor Relations). Timothy Daniels, consultant and head of investor relations and sustainability, was also cited as Best Investor Relations Professional.

“We are honored to receive this recognition from Corporate Governance Asia. Governance and sustainability remain embedded in how we operate, helping strengthen resilience, support disciplined decision-making, and enable long-term value creation for our various stakeholders,” Mr. DyBuncio said.

The awards come as companies across the region navigate heightened economic volatility, geopolitical uncertainty, and growing climate-related risks.

BDO Unibank received nine awards while SM Prime Holdings Inc. received seven awards.

The recognitions were conferred during the 16th Asian Excellence Awards, which carried the theme “Reshaping Asian Leadership in a Changing Global Economic Landscape and Climate Change.”

Corporate Governance Asia is a regional publication focused on corporate governance, sustainability, investor relations, and boardroom leadership across Asia.

About SM Investments Corporation

SM Investments Corporation (SM) is an owner-operator of market-leading businesses in retail, banking, and property, with investments in high-growth opportunities in the Philippine economy. Through its portfolio, SM generates resilient cash flows and reinvests with discipline to compound value over the long term.

Its retail operations are the largest and most diversified in the country. Its property arm, SM Prime Holdings, Inc., is the largest integrated property developer in the Philippines. Its banking interests include BDO Unibank, Inc., the country’s largest bank, and China Banking Corporation, one of the country’s largest private domestic banks.

For more information, please visit www.sminvestments.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/corporate-governance-asia-recognizes-sm-group-with-24-awards-302830593.html

SOURCE SM Group

Continue Reading

Technology

Paymob and UnionPay Expand Digital Payment Acceptance Across Egypt

Published

on

By

CAIRO, July 21, 2026 /PRNewswire/ — UnionPay International (UPI), the global payment network, has announced a massive expansion of its digital footprint in Egypt through a strategic partnership with Paymob, the leading financial services enabler in the MENA region. The collaboration has officially enabled over 160,000 POS terminals across Egypt to accept UnionPay cards, unlocking an unprecedented opportunity for local businesses to tap into lucrative, high-spending international consumer markets.

This scale-up marks a game-changing milestone for digital payments in Egypt and the wider region. It represents the rapid execution of a landmark strategic cooperation agreement signed between both parties in September 2025. In a powerful demonstration of agility and institutional alignment, the partnership moved from formal signing to full market implementation in just eight months. The original agreement was executed under the prestigious witness of both the Central Bank of Egypt and the People’s Bank of China, underscoring the geopolitical and economic importance of the corridor.

Paymob, led by Endeavor Entrepreneurs Islam Shawky, Alain El Hajj, and Mostafa Menessy, has leveraged its cutting-edge infrastructure to rapidly activate UnionPay card acceptance. This swift, large-scale commercial deployment connects millions of international cardholders directly to local Egyptian merchants, unlocking new horizons for cross-border payments, global trade, and Egypt’s accelerating digital economy.

With Egypt aggressively scaling its position as a top-tier global tourism and business hub, this expanded acceptance network empowers local merchants to seamless capture frictionless, card-present and digital payments across all major sectors,  including luxury hospitality, high-end retail, fine dining, historical tourism excursions, and transport services.

For Egyptian businesses, this initiative goes far beyond basic financial inclusion; it provides direct, frictionless access to massive international purchasing power. By eliminating reliance on physical cash exchanges and foreign currency friction, local merchants are now uniquely positioned to maximize their average basket sizes, accelerate transaction speeds, and drive immediate bottom-line revenue growth within the digital economy.

Through this infrastructure upgrade, businesses located in Egypt’s primary tourism epicenters, coastal resorts, and bustling commercial capitals can offer international visitors a familiar, trusted, and premium payment experience, driving immediate customer loyalty and unlocking previously inaccessible sales volume.

“Egypt stands at the forefront of global tourism and cross-border trade, attracting millions of affluent global visitors annually”, said Mr. Feng Chen, General Manager of UnionPay International, ” By expanding UnionPay card acceptance across Paymob’s vast merchant ecosystem, we are not just smoothing out the payment experience for global travellers, we are handing local Egyptian enterprises a powerful catalyst to capture elite international spending power and scale their businesses into the global digital economy”.

This landmark rollout directly aligns with the Central Bank of Egypt’s (CBE) vision for financial digitization and cash-lite infrastructure modernization, elevating Egypt’s merchant landscape to meet the highest global standards of electronic payment security and convenience.

As international arrivals and cross-border commercial trade continue their aggressive upward trajectory, both Paymob and UnionPay are committed to continuously expanding local acceptance capabilities, ensuring Egyptian businesses remain perfectly equipped to convert global foot traffic into measurable financial success.

View original content:https://www.prnewswire.co.uk/news-releases/paymob-and-unionpay-expand-digital-payment-acceptance-across-egypt-302830606.html

Continue Reading

Trending