A strong start for Shanghai in attracting foreign investment
As of the end of 2021, 190 countries and regions had invested in Shanghai.
Deals were signed on Friday on 53 foreign investment projects to be launched in Shanghai, with an overall value of US$5.44 billion.
Among the signed projects, 21 are worth more than US$100 million.
These deals demonstrate that the city remains one of the preferred locations for the global layout of multinational companies' industrial, supply and innovation chains.
These projects primarily focus on the new "3+6" industrial system in Shanghai, which highlights the three leading industries – integrated circuits, biomedicine and artificial intelligence – as well as six high-end industries: electronic information, health care, automotive, high-end equipment, advanced materials and fashion consumer goods.
Of the 53 projects, 37 are related to key emerging sectors such as biomedicine, electronic information, automotive and fashion consumer goods, amounting to US$3.52 billion of total investment.
Meanwhile, 19 projects will be in key functional areas and the five "new cities," with investment totaling US$1.7 billion.
As an example, Carl Zeiss AG, a German manufacturer of optical systems and optoelectronics, will set up the Carl Zeiss (China) Investment Company in Shanghai. Investment of US$30 million will primarily be in the fields of optical systems, industrial measuring instruments and medical equipment.
Upon completion, it will substantially improve China's position in the group's global strategy and enhance its competitiveness in the Chinese market, said Christian Martin, chief financial officer and digital transformation officer of ZEISS China.
In 2021, the number of new foreign enterprises, foreign investment contract value and the actual use of foreign investment in Shanghai all achieved double-digit growth.
The actual use of foreign investment surged 11.5 percent year on year to exceed US$22.5 billion, a new record high.
Sixty new regional headquarters of multinational companies and 25 foreign research and development centers were set up in the city last year, bringing the total to 831 and 506, respectively.
As of the end of 2021, 190 countries and regions had invested in Shanghai.
