Shanghai has announced its 2024 list of the Top 100 Foreign-Invested Enterprises (FIEs), which expanded to include 265 companies, up by seven from the previous year, highlighting the city's growing appeal to international businesses.

The China (Shanghai) Pilot Free Trade Zone is a hotspot for foreign investment, with 128 companies registered in the FTZ making the list.

The list is led by companies from the United States, Japan, and Germany, which together make up more than half of the entries. US companies, in particular, continue to lead with 87 firms, four more than last year.

At the presentation ceremony on Nov 12, company representatives shared their success stories in the city. Wu Junyi, vice-president of Michelin (China), praised Shanghai's openness and innovation, noting that since 2001, Michelin has invested over $2 billion in China, establishing a robust network of headquarters, R&D, manufacturing, and services.

Shanghai continues to prioritize creating a welcoming environment for international businesses. From January to September, 4,764 new foreign-invested enterprises were formed, representing a 5.5 percent rise compared to the previous year. During this period, FDI inflow in actual use totaled $12.06 billion. The city remains dedicated to maintaining openness and helping multinational corporations achieve greater success.