European companies have ranked Shanghai as the best city to locate their Asia Pacific headquarters, says a Reuters report published by the Straits Times.
Citing a survey conducted by the European Union Chamber of Commerce in China and Roland Berger Strategy Consultants, Reuters adds that Hong Kong and Singapore ranked the second and third most preferred locations out of 15 cities assessed.
For European companies, proximity to clients and markets is the most important criteria for the location of a regional headquarters and in which Shanghai garnered the highest score. But the Chinese city fell behind Singapore and Hong Kong in other areas such as the legal and regulatory environment as well as the political environment.
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