One More ‘Regional Headquarters of Multinational Corporation’ in TEDA

Recently, Tianjin FAW Toyota Motor Co., Ltd., an enterprise in TEDA, has been recognized as “regional headquarters of multinational corporation” by Tianjin Commission of Commerce. So far, there are 16 enterprises recognized in Tianjin, and  8 TEDA’s enterprises are on the list.

In October 2020, Tianjin FAW Toyota Motor Co., Ltd. completed the integration of Sichuan FAW Toyota Motor Co., Ltd. (including Changchun Fengyue Branch), Tianjin FAW Toyota Engine Co., Ltd. and FAW Toyota (Changchun) Engine Co., Ltd.. On the basis of integration, it has increased 3.8-billion-yuan domestic capital and 560-million-dollar foreign capital. After the integration and capital increase, Tianjin FAW Toyota Motor Co., Ltd. was upgraded to the general headquarters of FAW Toyota.

At the end of November, Tianjin FAW Toyota Motor Co., Ltd. was identified as the regional headquarters of multinational company and became the eighth regional headquarters enterprise of multinational companies in TEDA. According to the Regulations on Encouraging Multinational Corporations to Establish Regional Headquarters and Headquarters-based Organizations in Tianjin, the regional headquarters of multinational corporations can enjoy the convenience of entry and exit of personnel, settlement, financing, foreign exchange management, customs clearance of goods, etc.

In the process of business integration and recognition of regional headquarters of multinational corporation, the professional and accurate one-stop service of TEDA has saved time and effort for Tianjin FAW Toyota. Together with relevant departments such as Steering Office of Commerce and Investment Promotion, Automotive Industry Promotion Bureau provides customized solutions and helps the company in all aspects. Finally, it took only 16 days from preparation of materials to successful recognition.

“The successful recognition is an honor and a welfare for Tianjin FAW Toyota, which is conducive to the further development and gathering of projects of FAW Toyota in TEDA. Enterprise can concentrate the resources of the entire group, rationally allocate personnel and improve efficiency.” the relevant person in charge of Business Planning Department in FAW Toyota said.