Foreign investment surges in Shanghai in Jaunary

Shanghai saw the establishment of 563 new foreign-funded projects in January, up 69.1 percent from the same period last year.

Shanghai saw the establishment of 563 new foreign-funded projects in January, up 69.1 percent from the same period last year, boosted by a substantial increase of such investment in manufacturing, commercial and technological services, regional headquarters and research and development centers.

Total contractual foreign investment surged 197.6 percent to US$10.97 billion, while the actual use rose 33.5 percent to US$1.422 billion, as a cluster of big projects involving foreign investment were launched.

There were 552 new foreign-funded projects in the service sector, with an actual use of US$1.284 billion in foreign investment, up 24.8 percent over the same period last year. In the breakdown, commercial service projects absorbed US$645 million, up 66.5 percent, while technological service projects attracted US$146 million, up 263.8 percent. The rest went to other sectors including real estate and trade.

Actual foreign investment in the manufacturing sector surged 315.7 percent to US$126 million. At the same time, Shanghai witnessed the establishment of four new regional headquarters by multinational corporations, two new foreign investment companies and two more foreign-funded research and development centers. By the end of January, altogether 674 regional headquarters of multinational corporations had been set up in Shanghai.

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