Shandong embraces headquarters economy

(| Updated : 2024-06-18

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The headquarters economy serves as a potent catalyst for urban advancement and regional high-quality development.

Recognizing its transformative potential, Shandong province is actively promoting the development of the headquarters economy and optimizing its industrial structure.

While attracting leading enterprises is crucial, nurturing local entities is equally essential for the growth of the headquarters economy. Shandong boasts a comprehensive industrial landscape, having cultivated a remarkable array of internationally-renowned homegrown companies over the years.

These trailblazers, including Haier, Hisense, Inspur, and Himile Group, have established themselves as frontrunners in their respective industries.

Himile Group, a provider of diverse solutions for the automotive, construction machinery, and energy sectors, achieved a remarkable 17 billion yuan ($2.34 billion) in output and $760 million in exports in 2023.

To enhance their attractiveness, cities across Shandong are implementing a range of incentives and support measures.

Jinan, one of the first cities to recognize the importance of the headquarters economy, introduced a batch of policies to encourage its development in 2018. Further strengthening its commitment, Jinan revised its headquarters economy policies in 2022, clearly defining criteria for headquarters enterprise recognition, incentives, and management.

In April 2022, Shandong province unveiled a policy document for the first time in the name of the provincial government to significantly enhance the appeal of headquarters economy recruitment.

Shandong's proactive approach to the development of the headquarters economy underscores its unwavering commitment to fostering a vibrant and competitive business environment, attracting top talent and enterprises, and propelling the province towards a prosperous and sustainable future.