Taiwan-based WT Group has received approval from local authorities to set up its regional headquarter in Shanghai’s Hongqiao Central Business District. The move has come as the company seeks to upgrade its WT Microelectronics (Shanghai) Co, Ltd into an investment-oriented company.

It is the third regional headquarter of an investment-oriented enterprise that has been approved by the city’s Commission of Commerce following Taiwan's Liteon Technology Corp and Germany’s KSPG AG.

WT Group prefers the district’s advantageous location and mature investment environment. The Hongqiao Central Business District is expected to attract more companies to settle down as it develops.

Founded in 1993, WT Group is a leading electronic component distributor and service provider in the industry. It has set up regional offices in Taipei and Hsinchu in Taiwan and in Hong Kong, Shenzhen and Shanghai.