SAIC Volkswagen tops list

Source: Xinhua | 2017-11-10

SAIC Volkswagen Automotive generated the highest revenue and paid the most taxes in 2016 among multinational companies in Shanghai, a conference heard yesterday.

The automaker, Apple China and SAIC General Motors Company were ranked top for the highest total revenue on the list of the 2016 top 100 multinational corporations in Shanghai, which was released at a conference on foreign manufacturing investment held in the city. In terms of total taxes paid, SAIC Volkswagen, Porsche China and SINOPEC Shanghai Petrochemical Company were listed as the top three, .

There are 47,600 foreign-funded enterprises operating in Shanghai, including 614 regional headquarters and 418 research and development centers. These foreign firms, taking up 2 percent of all companies in number, have contributed 27 percent of Shanghai's gross domestic product, 60 percent of total industrial output of enterprises above a designated size, 65 percent of import and export volume, 33 percent of total taxes, and over 20 percent of employees.