Shanghai's FDI inflow up 5.9% in January-August

Foreign direct investment into Shanghai, in actual use, grew 5.9 percent year on year to US$13.88 billion in the first eight months of this year, local authorities said.

Foreign investment in the tertiary industry came in at US$13.06 billion, up 12.9 percent year on year during January to August, accounting for 94.1 percent of the city's total FDI over the eight-month period, according to the city's statistics bureau.

Investment in information transmission, software and IT service sector surged by 110 percent to US$3.22 billion in the first eight months.

Wholly foreign-owned enterprises were major sources of the city's FDI, the bureau said, noting that their investments totaled US$11.64 billion during the January-August period, accounting for 83.8 percent of the city's total.

A total of 3,115 new wholly foreign-owned enterprises were established in Shanghai during the period.