General Motors (GM) has announced it it will be moving its international headquarters from Shanghai to Singapore in 2014. The move comes in the wake of of the company's decision to separate its Chinese operations from its international business.
Singapore proved an attractive prospect, owing to its proximity to markets outside China. The city-state boasts an attractive level of corporation tax, at 17 per cent, which can be reduced further if companies provide certain levels of jobs and spending. The new headquarters will have approximately 120 staff and will work across sales and marketing, as well as product planning and communications.
Vice president of communications at GM, Lori Arpin, told the BBC:
Currently we have a distribution centre in Singapore and part of the new headquarters team will be made up from that existing staff base.
China will now stand on its own - because we believe it demands that focus.
GM will retain its office in Shanghai (pictured).