A total of four companies in Wuxi were included in the latest batch of regional headquarters and functional institutions of provincial-level multinational companies, the Jiangsu provincial department of commerce recently announced.
Among them, two were upgraded from functional institutions to regional headquarters. There are now 45 regional headquarters and functional institutions of provincial-level foreign-funded multinational companies in Wuxi.
Bekaert (China) Technology R&D Co is one of the four listed enterprises in Wuxi. The company was originally established in Wuxi 25 years ago to provide engineering and technical services for the investment and construction of the parent company's production base.
After years of development, the Wuxi branch became an Asian R&D center integrating industrial material R&D, equipment design and manufacturing, sample testing, and engineering testing. Later, it developed into the only Chinese base of Belgian firm Bekaert that includes multiple management service functions such as R&D, engineering, training, finance, logistics, procurement and manufacturing.
Another listed regional headquarters, BEP (China) Testing Equipment Co, is serving as the headquarters of BPG Luxembourg International Holdings Co in China. The company's sales exceeded 300 million yuan ($47.08 million) in 2021.
In 2021, Jiangsu set up a nurturing library for the regional headquarters of multinational companies and functional institutions. Wuxi has a total of 31 enterprises in the library, ranking second in the province.
"This is an innovative move to promote the tiered development of foreign-funded enterprises," said an official from the local commerce bureau in Wuxi, adding that such support will help make enterprises more competitive and influential.
