Following the launch of its China Research Institute in Beijing last week, Siemens (SI) has now unveiled its Shanghai Center and Southeast China Operation Headquarters in Yangpu, Shanghai.

Klaus Kleinfeld, CEO of Siemens disclosed that Siemens has invested more than CNY710 million on the Southeast China Operation Headquarters project, which is one of the most important real estate projects for the company in the global market.

Meng Fanchen, general manager of Siemens Shanghai, says now that two-thirds of Siemens' staff and 80% of its income in China come from Southeast China, this is a long term strategy for the company to initiate this program.

Siemens' new Southeast China Operation occupies 35000 sqm and can hold 2000 employees. The construction of the building will be started at the end of this year and put into operation in November 2008.

Apart from Siemens, some other European companies, including Suez from France, have signed agreements to set up their branches in the Yangpu area.