Over the next two years, Siemens will invest approximately €70 million in building a center for regional headquarters in Shanghai, China. Siemens Center Shanghai (SCS) will serve the eastern region of China and the aim is to consolidate all Shanghai-based Siemens business there by the end of 2008. More than 2000 employees in administration, marketing, sales, R&D, services and training and also regional executive management will work at the facility.
Siemens is founding the SCS to meet the demand generated by the rapid growth in East China. The center will provide 35,000 m2 of office space and consolidate all of the company’s Shanghai-based business areas. This makes Siemens the first multinational company to choose the Shanghai district of Yangpu as the location for its regional headquarters for East China. With over 100 research institutes and 14 universities, it is the innovation corridor of Shanghai. And East China, with the City of Shanghai and the provinces Jiangsu, Zhejiang, Anhui, Hu’nan, Hubei and Jiangxi, is of strategic importance to Siemens' business in China.
Commenting on the initiative Klaus Kleinfeld, CEO of Siemens AG, said, "Siemens Center Shanghai is one of our largest real-estate investments worldwide. We're confident that this move will strengthen Siemens' position in one of the most important markets of the future. We're also confident that the growth of our business there will continue to be above average."