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Foreign investment rises 14.2% in city
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Foreign direct investment in Shanghai expanded 14.2 percent from a year earlier to US$1.65 billion in March, comparing favorably to China's 1.47 percent decline, the Shanghai Statistics Bureau said this morning.
The city's FDI picked up from an 8.5 percent increase in February, which indicated foreign investors remained confident about business conditions in Shanghai, analysts said.
Foreign investment in the city's service sector, which accounted for 90 percent of total FDI, rose 11.7 percent last month, while capital earmarked for the manufacturing sector dropped 24.9 percent, the bureau said.
Last year, foreign investment in the service industry made up more than 80 percent of the city's total FDI, highlighting the city government's enhanced focus on the sector.
By the end of last year, the city was home to 283 foreign investment companies, 445 regional headquarters of multinational companies and 366 research and development centers.
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