As a crucial window for China's high-level opening-up, Pudong New Area in Shanghai has emerged as a preferred destination for multinational corporations to deploy their industrial chains, supply chains, and innovation chains. Recently, two MNCs in Pudong have made significant strides.

German multinational company Bayer recently announced the establishment of Bayer Co.Lab AdVenture in China, marking the global debut of a platform that links with venture capital institutions. The latest initiative signifies a new chapter in Bayer's open innovation strategy in China.

The newly launched Bayer Co.Lab AdVenture will facilitate connections between its resident enterprises and leading international venture capital and private equity firms, opening a new window for accelerating their integration into the global investment and financing network.

Bayer Co.Lab launches its first platform for global life sciences incubator network — the Bayer Co.Lab AdVenture in Pudong. [Photo/WeChat ID: pdnews]

Juergen Eckhardt, head of business development and licensing at Bayer's pharmaceuticals division, stated that Bayer will continue to deepen its cooperation with local innovation forces, fostering more groundbreaking innovations.

Meanwhile, the US multinational corporation Cummins inaugurated its new site of global distribution center in Pudong, along with the concurrent establishment of a center to support original equipment manufacturer (OEM) parts go global and a supply chain solution design center.

Located in the Bonded Area of the China (Shanghai) Pilot Free Trade Zone, the new site spans 30,000 square meters, enabling rapid and efficient global distribution of parts.

The new global distribution center boasts a comprehensive spare parts system for all Cummins product lines, facilitating cross-continental deliveries to 37 countries and regions worldwide. Future plans include further increasing the local procurement rate of parts and intensifying investments in digitalization and intelligence.

The new distribution center represents upgrades in facilities and soft power for Cummins. Through online ordering, intelligent customer service, online payment, credit control, and efficient logistics and information networks, it offers intelligent, fast, specialized, and cost-effective services.