Shanghai's Overseas Investment to Top US$10 bn This Year

Home>>Business

Last updated at: (Beijing Time) Thursday, November 07, 2002

Shanghai's Overseas Investment to Top US$10 bn This Year

Shanghai, China's biggest industrial and financial city, is expected to draw a record high of 10 billion US dollars in contractual overseas investment this year, local officials said Wednesday.

DISCUSSION

CHINESE

SEND TO FRIEND

Shanghai, China's biggest industrial and financial city, is expected to draw a record high of 10 billion US dollars in contractual overseas investment this year, local officials said Wednesday.

Officials with the Shanghai municipal government said that the city attracted 9.1 billion US dollars in contractual overseas investment during the first 10 months this year, a year-on-year increase of 37.3 percent.

About one third of the investment, or 3.3 billion US dollars, came as added investment, indicating the business of overseas investors in the city is in good shape.

Overseas investment in the tertiary sector in the municipality rose by 97.05 percent to 3.23 billion US dollars, involving 1,214 overseas investment projects, a rise of 34.59 percent.

Contractual overseas investment in the industrial sector totaled 5.663 billion US dollars, involving 1,377 projects.

Total investment in the manufacturing sector accounts for 62 percent of the total.

A total of 195 overseas investment projects were approved by Shanghai this year, each involving 10 million US dollars or more.

The number of research and development centers set up by multinationals in the city reached 80, an increase of 17.

The Virgin Islands, Hong Kong and Japan were the top three overseas investors pouring in 1.653 billion, 1.563 billion and 1.174 billion US dollars, respectively, in contractual volume into Shanghai in the first 10 months this year.

Questions?Comments? Click here

Shanghai Sets New Record in Attracting Overseas Funds

Foreigners Enjoy Fair Treatment, Prices as China Opens Up ( 5 Messages)

China Develops its Own Network Computer ( 2 Messages)

Traditional Chinese Medicine Grabs World Attention ( 11 Messages)

A US-Iraqi War Will Affect China, China Has Had All-round Counter-measures ( 5 Messages)

China to Launch Fourth Unmanned Spacecraft ( 11 Messages)

Lured by Black Gold-Oil-- under Anti-Terrorism Banner ( 72 Messages)