Honeywell Recognized for Innovation Capabilities
May 02, 2017
Pudong New Area Government aims at building up the world's most attractive place for investment in the next 5 years, which cannot be achieved without the support from the companies. In order to recognize those companies who have made significant contributions to Pudong, 140 companies were awarded. In 2016, the aggregate tax contributed by all these 140 enterprises amounts to RMB 96.7 billion, which accounts for 1/3 of the total tax revenues in Pudong.
Honeywell China President and CEO Stephen Shang said, “We are happy to be awarded the prize for three consecutive years, which indicates our contributions are highly recognized by Pudong New Area Government. Over the years, with the efforts of our local R&D team in Pudong, Honeywell has developed a series of products and innovative technologies to meet the needs of China's local market.”
Last year, Honeywell made additional investment of $100 million to expand its Asia Pacific headquarters and China R&D center located in Pudong. The new ten-floor AP headquarters new building enables the company to expand its R&D and office areas by about 50 percent, so as to support its sustainable growth of business and personnel in the next few years. The investment is also part of Honeywell's efforts to support Shanghai in building the scientific and technological innovation center.