Shanghai’s 15th Five-Year trade-centre plan: the foreign-investment agenda for multinationals
- On 3 September 2026 the Shanghai municipal government outlined the foreign-investment agenda of its 15th Five-Year Plan for accelerating the building of an international trade centre: four priorities — opening wider, upgrading the calibre of foreign investment, strengthening investment promotion, and improving services for foreign enterprises.
2026年9月3日，上海市政府发布《上海市加快国际贸易中心建设”十五五”规划》外资相关内容：围绕提升开放水平、提升外资能级、加大投资促进力度、提升服务企业能力四个”着力”部署外资工作。
- Shanghai’s stock is the strongest in mainland China: cumulative actual FDI use surpassed USD 100 billion during the 14th Five-Year Plan period, high-tech industries’ share of actual FDI rose from 23% to 33%, and by 3 September 2026 the city had accredited more than 1,100 multinational regional headquarters and 670 foreign-invested R&D centres.
上海存量保持中国内地领先：”十四五”期间全市累计实际使用外资突破1000亿美元，高技术产业实际使用外资占比从23%提升到33%；截至2026年9月3日，累计认定跨国公司地区总部超1100家、外资研发中心670家。
- Regional headquarters will be supported in upgrading from China-area headquarters toward Asia-Pacific headquarters and global-division headquarters by concentrating R&D, treasury management, investment decisions and supply-chain management functions in Shanghai; R&D-centre accreditation and dynamic evaluation will be optimised, encouraging integration of R&D and production.
跨国公司地区总部将被支持集聚研发创新、财资管理、投资决策、供应链管理等多项功能，从中国区总部升级为亚太区总部、事业部全球总部；外资研发中心相关认定及动态评价机制将优化，鼓励研发创新与生产制造一体化。
- Market-access lines: the city will deepen the national comprehensive pilot of services-sector opening, land the value-added-telecom, biotechnology and wholly-foreign-owned-hospital opening projects, implement the new encouraged-catalogue for foreign investment, and steer capital toward advanced manufacturing, modern services and high technology.
开放线路上：深入实施国家服务业扩大开放综合试点，推动增值电信、生物技术、独资医院等开放项目落地；落实新版鼓励外商投资产业目录，引导外资投向先进制造、现代服务、高新技术等领域。
- Support mechanics include the “20 measures on domestic reinvestment” continuing to be implemented, foreign enterprises encouraged to conduct local R&D, technology upgrading and green transition, and service tools such as the round-table mechanism and “service packages” for key foreign enterprises, with a closed-loop system for receiving, transferring and feeding back on companies’ problems.
支持机制包括：持续落实”境内再投资20条”，支持外资企业开展本地研发、技术升级和绿色低碳转型；用好政企沟通圆桌会、重点外资企业”服务包”等服务机制，完善问题”接收—转办—反馈”闭环处理。
- For foreign groups, the plan is a practical upgrade map: where your China entity sits in the headquarters ladder, what functions it can centralise in Shanghai, and which accreditation tracks (regional headquarters, R&D centre, investment company) apply to your structure.
对外资集团而言，这份规划是一张实用的升级地图：贵司中国主体处于总部梯队的哪一级、可在上海集中哪些职能、以及哪些认定通道（地区总部、研发中心、投资性公司）适用于当前架构。
Shanghai’s 15th Five-Year trade-centre plan: the foreign-investment agenda for multinationals | 上海”十五五”国际贸易中心规划中的外资路线图：跨国公司总部与研发中心升级路径
Overview
On 3 September 2026, the Shanghai municipal government held a press conference on the 15th Five-Year Plan for Accelerating the Building of an International Trade Centre in Shanghai (《上海市加快国际贸易中心建设”十五五”规划》). Within a plan built around 22 priority tasks — trade-hub functions, digital trade, service trade, consumption, and opening — the foreign-investment sections set out how Shanghai intends to keep multinationals investing, upgrading and deepening their China operations through 2030.
For foreign-invested groups the value of the document is its specificity: Shanghai is the mainland city with the deepest stock of multinational regional headquarters and R&D centres, and the plan is explicit about the upgrade ladder, the accreditation tracks and the service machinery that support a regional mandate in China.
The record Shanghai is building on
Shanghai’s officials opened with the 14th Five-Year period record: cumulative actual foreign direct investment use surpassed USD 100 billion; the high-tech share of actual FDI rose from 23% to 33%; an average of more than 5,700 new FIE registrations per year; and accreditation of 305 multinational regional headquarters and 155 foreign-invested R&D centres during the period. As of 3 September 2026 the cumulative city-wide numbers stood at more than 1,100 accredited multinational regional headquarters and 670 foreign-invested R&D centres — the largest such base in mainland China.
The 15th Five-Year Plan works from this base with four “efforts” (四个着力).
Effort one: opening wider — investment space
Shanghai will deepen implementation of the national comprehensive pilot for services-sector opening, pushing through the landing of the value-added-telecom, biotechnology and wholly-foreign-owned-hospital opening projects in the city, and will implement the new edition of the encouraged catalogue for foreign investment (鼓励外商投资产业目录). The aim is to steer foreign capital toward advanced manufacturing, modern services and high technology, and to support foreign enterprises in joining upstream and downstream industry-chain co-operation — expanding the “space” available to foreign investors.
Effort two: upgrading the calibre of foreign investment
This is the strategic core for multinationals:
- Headquarters upgrading. Shanghai will support multinational regional headquarters in concentrating R&D innovation, treasury and capital management, investment decision-making and supply-chain management functions, and in upgrading from China-area headquarters to Asia-Pacific headquarters and global-division headquarters.
- R&D centres. The accreditation and dynamic evaluation mechanism for foreign-invested R&D centres will be optimised, encouraging the integration of R&D innovation with production and manufacturing.
- Reinvestment. The “20 measures on domestic reinvestment” (境内再投资20条) continue to be implemented, supporting foreign enterprises in local R&D, technology upgrading and green and low-carbon transition, and helping them embed in the local innovation ecosystem and industry chain.
Effort three: stronger investment promotion
Shanghai will improve its city-wide co-ordination of investment promotion, drawing on resident foreign missions and the global-partner network for investment promotion, using major event platforms and international competitions, and building an international narrative around the “Invest in Shanghai” brand. Expect a denser calendar of promotion activity tied to the city’s industries.
Effort four: better services for foreign enterprises
Shanghai’s officials emphasised service delivery: the government-enterprise round-table mechanism (推广向全国的政企沟通圆桌会议) with more than one hundred sessions a year at city and district levels and a problem-resolution rate above 90%; “service packages” for key foreign enterprises with dedicated service specialists and customised policy delivery; and a closed loop that receives, transfers and feeds back on enterprises’ problems (“事事有着落”). The trade-centre plan also carries specific trade-facing work: enhancing supply-chain organisation and management functions, commodity-resource allocation, and outbound-integrated services.
What this means for foreign groups
- Map your place on the headquarters ladder. If your China entity is a China-area headquarters, Shanghai’s framework is built to move it toward an Asia-Pacific or global-division headquarters — but the upgrade typically requires the entity to actually host the relevant functions (treasury, investment decisions, R&D, supply-chain management).
- R&D accreditation is a live track. With 670 accredited R&D centres already and the mechanism under optimisation, a foreign group’s China R&D operations should assess whether they meet the accreditation criteria and how the R&D-plus-manufacturing integration is scored.
- Structure choices interact with incentives. Whether you operate through a regional headquarters, an investment company, a R&D centre or an operating WFOE determines which recognition tracks and service tools apply; the “domestic reinvestment 20 measures” sit on top for groups expanding existing operations.
- Sector signals matter for new entry. Value-added telecom, biotechnology and wholly-foreign-owned hospitals are named as the opening projects to land in Shanghai; groups in those sectors should align entry plans with the pilot architecture (many of which operate through specific pilot zones).
- Service tools are a real channel. The round-table mechanism and service packages give foreign enterprises a structured channel to raise regulatory and operational issues; using them is part of operating practice in Shanghai.
Practical steps
- Benchmark your China structure against Shanghai’s accreditation tracks (regional headquarters, R&D centre, investment company) and identify which upgrade is achievable in the 15th Five-Year window.
- If you hold a regional-headquarters mandate, test whether the functions named in the plan (treasury, investment decisions, supply chain, R&D) are actually resident in the Shanghai entity; plan the moves needed to qualify for an Asia-Pacific or global-division upgrade.
- Review your R&D operations against the accreditation criteria and prepare for the dynamic-evaluation cycle.
- For groups planning new entry in value-added telecom, biotech or hospitals, map the applicable pilot zones and approval routes.
- Use the round-table and service-package channels to raise the operational issues that matter to your group, and track the implementing measures that will follow the plan.
Sources
- 上海市人民政府 — 市政府新闻发布会问答实录（2026年9月3日，国际贸易中心”十五五”规划与外资”四个着力”）: https://www.shanghai.gov.cn/nw9820/20260903/cfcb7a375569474796607ea6015fcd70.html
- 上海市人民政府 — 青浦政务服务东中西全覆盖跑出”加速度”（上海跨境政务服务与投资服务生态）: https://www.shanghai.gov.cn/nw15343/20260825/7783833a86f741e48daa8fde70da7c0f.html
- 中华人民共和国商务部 — 外国投资管理（新版鼓励外商投资产业目录与稳外资文件索引）: https://www.mofcom.gov.cn:8443/zcfb/wgtzgl/index.html
Related reading
- see also: using an FIE investment company as a regional headquarters vehicle (fie-investment-company-regional-hq)
- see also: regional headquarters and reinvestment structures for foreign investors (strategic-investment-structures)
上海”十五五”国际贸易中心规划中的外资路线图：跨国公司总部与研发中心升级路径
概述
2026年9月3日，上海市政府新闻办举行新闻发布会，介绍《上海市加快国际贸易中心建设”十五五”规划》。在这份围绕22项重点任务（贸易枢纽功能、数字贸易、服务贸易、消费、开放等）展开的规划中，外资章节明确了上海拟在2030年前如何让跨国公司持续投资、升级并深耕中国业务。
对外资集团而言，这份文件的价值在于其具体性：上海是中国内地跨国公司地区总部与研发中心存量最深的城市，规划对支持区域授权的升级阶梯、认定通道与服务机制表述明确。
上海所依托的业绩
上海官员首先给出”十四五”成绩单：累计实际使用外资突破1000亿美元；高技术产业实际使用外资占比由23%提升至33%；年均新设外资企业超5700家；期间新增认定跨国公司地区总部305家、外资研发中心155家。截至2026年9月3日，全市累计认定跨国公司地区总部超1100家、外资研发中心670家——为中国内地最集中的基地。
“十五五”规划在此存量上提出四个”着力”。
着力一：提升开放水平——投资空间更广
上海将深入实施国家服务业扩大开放综合试点，推动增值电信、生物技术、独资医院等开放项目落地，并落实新版鼓励外商投资产业目录。目标是引导外资投向先进制造、现代服务、高新技术等领域，支持外资企业参与产业链上下游配套协作——扩大外商投资”空间”。
着力二：提升外资发展能级
这是面向跨国公司最核心的战略部署：
- 总部升级。 支持跨国公司地区总部集聚研发创新、财资管理、投资决策、供应链管理等多项功能，从中国区总部升级为亚太区总部、事业部全球总部。
- 研发中心。 优化外资研发中心相关认定及动态评价机制，鼓励研发创新与生产制造一体化。
- 再投资。 持续落实”境内再投资20条”，支持外资企业开展本地研发、技术升级和绿色低碳转型，深度融入本地创新生态与产业链供应链。
着力三：加大投资促进力度
上海将完善全市外商投资促进统筹机制，依托驻外机构与促进外商投资全球伙伴网络，利用重大活动平台与国际性赛事，打造城市投资推介大会等标志性活动，打响”投资上海”品牌。可预期与城市产业绑定、更密集的推介活动日历。
着力四：提升服务企业能力
上海官员强调服务落地：政企沟通圆桌会议（向全国推广的机制）市区两级每年百余场、问题解决率超90%；重点外资企业”服务包”配服务专员、定制政策上门；企业问题”接收—转办—反馈”闭环处理，做到”事事有着落”。贸易中心规划还承载贸易面工作：增强全球供应链组织管理、大宗商品资源配置与走出去综合服务功能。
对外资集团的含义
- 对照总部梯队定位。 若贵司中国主体是中国区总部，上海的框架就是为向亚太区或事业部全球总部升级而设——但升级通常要求主体实际承载相应职能（财资、投资决策、研发、供应链管理）。
- 研发中心认定是活跃通道。 已有670家认定研发中心且机制正在优化，跨国集团的在华研发应评估是否符合认定标准、以及”研发+制造一体化”如何计分。
- 架构选择与激励互动。 通过地区总部、投资性公司、研发中心还是经营性独资企业运营，决定适用哪些认定通道与服务工具；扩张存量业务时”境内再投资20条”叠加其上。
- 行业信号影响新进入者。 增值电信、生物技术、外商独资医院被点名作为上海要落地的开放项目；这些行业的企业应把进入计划与试点架构对齐（多数经特定试点区域运作）。
- 服务工具是真实渠道。 圆桌会与服务包为外企提供反映监管与经营问题的结构化渠道；用好它们本身就是在上海的运营实践。
实务建议
- 对照上海认定通道（地区总部、研发中心、投资性公司）评估贵司中国架构，识别”十五五”窗口期内可实现哪级升级。
- 若持有地区总部授权，测试规划点名的职能（财资、投资决策、供应链、研发）是否实际驻于上海主体；规划向亚太或全球事业部升级所需的职能迁移。
- 对照认定标准复核研发运营，为动态评价周期做好准备。
- 计划新进入增值电信、生物技术或医院领域的企业，梳理适用的试点区域与审批路径。
- 借助圆桌会与服务包渠道反映集团关心的经营问题，并跟踪规划发布后陆续出台的实施细则。
来源
- 上海市人民政府 — 市政府新闻发布会问答实录（2026年9月3日，国际贸易中心”十五五”规划与外资”四个着力”）: https://www.shanghai.gov.cn/nw9820/20260903/cfcb7a375569474796607ea6015fcd70.html
- 上海市人民政府 — 青浦政务服务东中西全覆盖跑出”加速度”（上海跨境政务服务与投资服务生态）: https://www.shanghai.gov.cn/nw15343/20260825/7783833a86f741e48daa8fde70da7c0f.html
- 中华人民共和国商务部 — 外国投资管理（新版鼓励外商投资产业目录与稳外资文件索引）: https://www.mofcom.gov.cn:8443/zcfb/wgtzgl/index.html
相关阅读
- 见：以投资性公司作为地区总部载体（fie-investment-company-regional-hq）
- 见：跨国公司的地区总部与再投资架构（strategic-investment-structures）