Sportswear and equipment supplier Nike will build its China headquarters in Shanghai to further penetrate and cement its 30-year roots in the Chinese market.
The 54,575 square-meter headquarters will be located in Yangpu District and is due to open in the first quarter of 2014 to support its long-term business growth strategy, the US-based firm said on Monday.
Nike reported in June 2011 a record annual revenue of US$2 billion from the Chinese mainland, Hong Kong, and Taiwan, making the country second only to North America as the company's main income source.
Craig Cheek, vice president and general manager of Nike's business in China, said the new centralized campus for Nike's employees will elevate the company's facilities and operating capabilities.
Shanghai has been leveraging its international business links and unveiling favorable policies for foreign firms to relocate their regional headquarters here. By the end of September last year, up to 347 multinational companies have relocated to the city.
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