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Shanghai FDI soars 44.6% in September
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FOREIGN direct investment in Shanghai surged 44.6 percent from a year earlier to US$2.7 billion in September, a record in terms of both growth pace and volume for this year, according to the Shanghai Statistics Bureau.
It compared with the increase of merely 1.9 percent of China's inbound foreign investment in September -- a reflection of the city's leading status in absorbing overseas funds.
"Shanghai continues to stand at the front-line of attracting foreign investment," said Xue Jun, an analyst with CITIC Securities Co. "With the boost from projects in the pilot free trade zone and the Disneyland park, Shanghai has seen a big increase of its foreign direct investment last month."
Shanghai remains China's biggest base for foreign investment. In the first three quarters, Shanghai attracted altogether US$15.2 billion in foreign investment, up 12.9 percent on an annual basis. In comparison, China's FDI fell 1.4 percent during the same period.
Meanwhile, Shanghai's trade increased 2.1 percent year on year to US$40.7 billion last month with exports dropping 5.1 percent and imports adding 8.2 percent.
The Consumer Price Index, the main gauge of inflation, rose 2.7 percent in September, up from the pace of 2.6 percent a month earlier and defying the country's trend of a sharp slowdown to 1.6 percent.
The Producer Price Index, the factory-gate measurement of inflation, dipped 0.8 percent in the month, compared with the decrease of 0.1 percent in August, data from the statistics bureau showed.
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