Shanghai sees increase in foreign investment
With the optimization of China's COVID-19 policies, foreign-funded enterprises are showing more enthusiasm for taking root in Shanghai and China.
According to the latest data released by the Shanghai Statistics Bureau, the city's actual use of foreign capital in January-February this year was US$4.961 billion, a year-on-year increase of 18 percent. Among them, the actual use of foreign capital in the tertiary industry was US$4.761 billion, an increase of 15.9 percent, accounting for 96 percent of the total actual use of foreign capital in the city.
In terms of industries, the top three actual use of foreign capital are information transmission and information technology services, leasing and business services, and scientific research and technical services. The actual use of foreign capital in the three industries accounts for 77.5 percent of the total in the tertiary industry.
As the city with the largest number of regional headquarters of multinational companies on the Chinese mainland, foreign-funded enterprises that have invested and developed in Shanghai for years are also sparing no efforts to localize and innovate, striving to move from "Made in China" to "Created in China."
Boehringer Ingelheim's booth at the pharmaceutical exhibition area of the 5th CIIE in Shanghai on November 7, 2022.
Dr Pavol Dobrocky, president and CEO of Boehringer Ingelheim China, said that since 2019, Boehringer Ingelheim has launched the "China Key" strategy, fully integrating China into the group's global early clinical development, and achieving simultaneous registration and launch of innovative drugs worldwide.
In just three years, Boehringer Ingelheim has reached cooperative agreements with 19 top domestic hospitals in China and landed 14 global innovative early clinical research projects in China.
"In the next five years, Boehringer Ingelheim plans to increase its investment in China by more than 90 million euros (US$97.45 million) on production base expansion and technology upgrades. Driven by the 'China speed,' more innovative products will be approved in China and benefit Chinese patients sooner."
