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September 17, 2019

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City inks 42 foreign investment projects

By Huang Yixuan | 00:05 UTC+8 September 17, 2019 | Print Edition

A batch of 42 foreign investment projects in Shanghai was signed yesterday with the total contract value of around US$7.7 billion.

Among them, 15 are valued at more than US$100 million, covering various fields including intelligent manufacturing, biomedicine, the chemical industry, integrated circuits, new energy, new materials, commerce and trade, and finance.

“Adhering to the opening-up policy is one of China’s major long-term strategies and also the greatest advantage of Shanghai,” said Shanghai’s Vice Mayor Xu Kunlin.

“Shanghai has always been at the forefront of China’s reform and opening-up policy, and has always welcomed all kinds of enterprises to invest in the city, aiming to become the first choice for global investment,” Xu said.

In the first eight months of this year, Shanghai continued to maintain rapid growth in the number of new foreign-funded projects, contract value of foreign investment and actual foreign investment, with increases of 47.8 percent, 9.6 percent and 13.4 percent, respectively, data from the city’s Commission of Commerce showed.

Also during the period, the city has seen 31 new regional headquarters, 18 new Asia-Pacific regional headquarters and 10 new research and development centers.

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