Shang­hai’s FTZ sees a jump in projects funded from abroad

China Daily (Canada) - - FRONT PAGE - By LI YANG in Shang­hai

Shang­hai’s Free Trade Zone had 383 new for­eign­funded projects last month in­volv­ing an in­vest­ment of $1.76 bil­lion, up 2.1 times year-on-year, ac­cord­ing to the city’s com­merce com­mis­sion.

The num­ber of new for­eign- funded projects and their in­vest­ment last month in the FTZ ac­count for more than half of those in Shang­hai.

The main fields of for­eign in­vest­ment were fi­nan­cial in­dus­try and trade.

In the first month of this year, Shang­hai at­tracted 670 new for­eign- funded projects, up 1.25 times year- on- year, and $ 3.32 bil­lion in con­tracted in­vest­ment, up 86.7 per­cent year-on-year. In Jan­uary, the ac­tual use of for­eign fund kept a steady growth of 6.3 per­cent, hit­ting $1.16 bil­lion.

The mu­nic­i­pal com­merce com­mis­sion’s statis­tics show that for­eign cap­i­tal started en­ter­ing the fi­nance- lease busi­ness in large amounts last month, a main booster for the growth of the fi­nan­cialser­vice in­dus­try.

Shang­hai had 108 new for­eign-funded fi­nan­cialser­vice projects in Jan­uary, up more than five times year- on- year, and the con­tracted for­eign in­vest­ment was $1.04 bil­lion, in­creas­ing 1.8 times year-on-year.

The con­tracted for­eign in­vest­ment in trade last month is $878 mil­lion, up 1.09 times year- on- year. The ac­tual use of for­eign cap­i­tal in the ser­vice in­dus­try is $1.01 bil­lion, up 2 per­cent, ac­count­ing for about 80 per­cent of the rise in the ac­tual use of for­eign cap­i­tals in Shang­hai in Jan­uary.

In ad­di­tion, ac­cord­ing to the com­merce com­mis­sion, Shang­hai be­came the lo­ca­tion for four more re­gional head­quar­ters and two new in­vest­ment com­pa­nies of transna­tional en­ter­prises in Jan­uary.

By the end of last month, Shang­hai had 494 re­gional head­quar­ters for in­ter­na­tional en­ter­prises, among which 27 are for the Asi­aPa­cific re­gion, as well as 299 in­vest­ment com­pa­nies and 381 re­search and devel­op­ment cen­ters of the global en­ter­prises.

To date, all of the world’s top 10 ad­ver­tis­ing com­pa­nies, and 60 of the world’s top 100 ar­chi­tec­ture de­sign firms set up branches in Shang­hai.

Half of the city’s ex­hi­bi­tion en­ter­prises are for­eign

The an­nual con­tain­er­han­dling vol­ume of Shang­hai’s port has been the largest in the world for five con­sec­u­tive years.

Shang­hai has been one of the most popular des­ti­na­tions in China for for­eign cap­i­tals since the coun­try’s re­form and open-up in late 1970s.

GAO ERQIANG / FOR CHINA DAILY

Yang­shan

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