Shanghai posts 9.9% increase in FDI for May
By Wang Yanlin |
June 21, 2012, Thursday
|
Print Edition
Print Edition
FOREIGN direct investment in Shanghai rose 9.9 percent on an annual basis to US$1.34 billion in May, according to the Shanghai Statistics Bureau.
Although the pace was stronger than March's 2.7 percent gain, it slowed from the 15.9 percent jump in April.
But contracted FDI in Shanghai surged 27.5 percent to US$2.04 billion, with US$268 million of that, or 2.5 times the value a year ago, going into the city's manufacturing sector. Its weighting rose 6.4 percentage points to 13.1 percent in the total investment pie.
The service sector in Shanghai absorbed US$1.77 billion worth of contracted FDI, up an annual 19.1 percent.
Shanghai targets to attract at least US$10 billion in FDI annually by 2015, the Shanghai Commission of Commerce said earlier in a guideline for foreign investment during the 12th Five-Year Plan period that runs from 2011 to 2015.
China's FDI edged up 0.05 percent from a year earlier last month, ending a six-month declining streak.
Although the pace was stronger than March's 2.7 percent gain, it slowed from the 15.9 percent jump in April.
But contracted FDI in Shanghai surged 27.5 percent to US$2.04 billion, with US$268 million of that, or 2.5 times the value a year ago, going into the city's manufacturing sector. Its weighting rose 6.4 percentage points to 13.1 percent in the total investment pie.
The service sector in Shanghai absorbed US$1.77 billion worth of contracted FDI, up an annual 19.1 percent.
Shanghai targets to attract at least US$10 billion in FDI annually by 2015, the Shanghai Commission of Commerce said earlier in a guideline for foreign investment during the 12th Five-Year Plan period that runs from 2011 to 2015.
China's FDI edged up 0.05 percent from a year earlier last month, ending a six-month declining streak.
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