(Yicai Global) Sept. 27 -- Lujiazui Financial City in China's financial hub of Shanghai has attracted the regional headquarters of 107 multinational firms, according to the latest figures. To create a better business environment, the Lujiazui Financial City Headquarters Economy Promotion Association, initiated and made up of more than 100 executives, was officially formed today.

The new platform will be a bridge for two-way communication between the government and enterprises, build crossover communication channels for headquarter corporations, and optimize the development environment for them, according to the Lujiazui Administration Bureau.

In addition, the association's establishment will facilitate the sharing of information and resources between headquarter institutions and the industrial chain's upstream and downstream as well as high-end resource gathering, accurate docking of supply and demand, and crossover communication and integration and international practical cooperation.

Lujiazui, benefiting from the policy advantages of China's further opening-up as well as its own strengths in comprehensive business environment and efficient professional services, has become home to a growing number of headquarters of MNCs, central enterprises and private firms.

So far, Fortune 500 companies have established more than 340 institutions in Lujiazui Financial City, with over 600 headquarter institutions of foreign-funded businesses, central enterprises, state-owned enterprises and private firms located there.