The First Regional Headquarter of Transnational Corporation in Huai'an Identified
On December 28, 2018, Department of Commerce of Jiangsu Province announced the ninth batch of regional headquarters and functional institutions of transnational corporations in Jiangsu Province. Jiangsu Hexing Automobile Technology Co., Ltd. was on the list, becoming the first recognized regional headquarter of transnational corporation in Huai'an.
Jiangsu Hexing Automobile Technology Co., Ltd., invested by MINTH Group, with a total investment of 240 million US dollars and agreed foreign investment of 80 million US dollars, mainly produces car exterior trim, luggage rack and other aluminum parts of car body. The products have been into the global procurement system of BMW, general motors, Volkswagen, Toyota and other brands. In 2014, the company was identified as a functional institution of transnational corporation. After being approved to be the regional headquarter of transnational corporation, the company may file applications to enjoy relevant facilitation measures, financial subsidies and other incentive policies in accordance with the relevant provisions of the province.