GM moves HQ from Shanghai to Singapore
Singapore - with its UK-based legal system - has won the coup of seeing General Motors transfer its international headquarters from Shanghai over to the island state.
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Singapore is working hard to present itself as a major financial services centre in Asia. It has developed a sophisticated financial services centre and is also attractive because of its low tax rates and UK-style legal structures. The Detroit-based car manufacturer plans to set up the new HQ with 120 staff next year - although about 250 staff will remain in Shanghai. But they will be tasked with the national market there rather than running the region. Source: The Financial Times
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