On December 10, 2014, Helen Hu, CFO of IP Asia, represented International Paper Asia (IP Asia) to receive a regional headquarters certificate from the Shanghai Government at an official awarding ceremony held in the City Hall.
International Paper Investment (Shanghai) Co., Ltd is the legal entity set up in 2011 and serves as IP's regional headquarters in Asia. IP Asia's regional headquarters functions were further expanded from previously management focused to become inclusive of management, investment, services as well as certain business activities. This is in line with the encouraged model by Shanghai municipal government to continuously attract foreign investment, and enable Shanghai to be a world trade, financing and shipping center. Hence, the establishment and strengthening IP Asia headquarters in Shanghai allows us to participate better in China market development and further grow our investment and businesses in the right direction encouraged and supported by the government. Meanwhile, it allows us to enjoy a wide range of financial and administrative supports including establishment incentive, rental subsidy, simplified administrative procedures, quicker customs clearance, etc in Shanghai.
“We’re very proud to be one of the 24 Asia Pacific regional headquarters so far established in Shanghai. The receipt of the certificate is a nice acknowledgement from the Shanghai government on our presence, growth strategy, and achievement. Being an Investment-type Asia Regional headquarters is a step-up from the past for us as well, which will set a bigger platform for us to continuously develop in China and other Asian countries. Meanwhile, the supports and incentive received from the government will help us both financially and in our operations. Taking this chance, I want to thank the teams who made great efforts in each step over a lengthy process to help the company obtain the qualification and achieve this result, mainly RHQ finance team in tax and accounting, supported by legal team and business teams such as Procurement and Distribution (“Project Diamond”), ” said Helen Hu.
IP Asia moved the regional headquarters from Hong Kong to Shanghai in 2005. Since then, we have solidly expanded our footprints and demonstrated the confidence and determination of participation in China's economic development. With the newly awarded qualification, we believe IP Asia will further enhance our presence and catch more opportunities for continuous growth in China and Asian region.