Shanghai focuses on FDI for hub ambition
By Wang Yanlin |
December 22, 2012, Saturday
|
Print Edition
Print Edition
SHANGHAI will continue to encourage and support foreign investment as the city charts its path toward becoming a global hub, according to a report released by the Shanghai Commission of Commerce yesterday.
The city will "implement national policy initiatives of building Shanghai into a global financial, shipping and trade center, and create a broad market for foreign investors," said the 2012 White Paper on Environment for Foreign Investment in Shanghai.
"The city will try to attract more foreign companies to set up headquarters in Shanghai, and optimize related policy incentives," the white paper said. "Also, the city will improve policy support for foreign investment in high-tech sectors" and strengthen policies geared toward indigenous innovation.
The white paper said some projects may interest foreign investors, including the Hongqiao Business District, the Shanghai Japanese Small and Medium Enterprises Park, the National Convention Center and the Shanghai Tower.
In the first 11 months, foreign direct investment in Shanghai soared 19.7 percent from a year earlier to US$14.4 billion, bucking the national trend of declining investment from overseas.
In November, the city's inbound foreign investment added 0.1 percent to US$927 million, compared with a 5.4 percent drop nationwide.
The city will "implement national policy initiatives of building Shanghai into a global financial, shipping and trade center, and create a broad market for foreign investors," said the 2012 White Paper on Environment for Foreign Investment in Shanghai.
"The city will try to attract more foreign companies to set up headquarters in Shanghai, and optimize related policy incentives," the white paper said. "Also, the city will improve policy support for foreign investment in high-tech sectors" and strengthen policies geared toward indigenous innovation.
The white paper said some projects may interest foreign investors, including the Hongqiao Business District, the Shanghai Japanese Small and Medium Enterprises Park, the National Convention Center and the Shanghai Tower.
In the first 11 months, foreign direct investment in Shanghai soared 19.7 percent from a year earlier to US$14.4 billion, bucking the national trend of declining investment from overseas.
In November, the city's inbound foreign investment added 0.1 percent to US$927 million, compared with a 5.4 percent drop nationwide.
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