Shanghai seeks FDI of US$10b by 2015
By Wang Yanlin |
March 2, 2012, Friday
|
Print Edition
Print Edition
SHANGHAI intends to attract at least US$10 billion in foreign direct investment annually by 2015, the Shanghai Commission of Commerce said yesterday.
The city will promote its mature market system, skilled workforce, efficient government and transparent laws to draw foreign investors instead of using preferential policies to lure them, the commission said in a guideline on foreign investment during the 12th Five-Year Plan from 2011-2015.
Last year, Shanghai attracted a record US$12.6 billion in FED, up 13.3 percent from a year earlier. The contracted FDI also rose 31.1 percent annually to US$20 billion.
"Foreign capital should be better used to spur the growth of Shanghai's strategic industries, especially the service sector and advanced manufacturing," the guideline said. "Foreign investment should also help the city build itself into a global financial, shipping and trading center."
Shanghai hopes for another 150 multinational companies to set up their regional headquarters here by 2015 to add to the 353 already to cement its position as the biggest hub in China for foreign firms' regional headquarters.
Another 75 foreign-invested research and development centers may be set up.
The city will promote its mature market system, skilled workforce, efficient government and transparent laws to draw foreign investors instead of using preferential policies to lure them, the commission said in a guideline on foreign investment during the 12th Five-Year Plan from 2011-2015.
Last year, Shanghai attracted a record US$12.6 billion in FED, up 13.3 percent from a year earlier. The contracted FDI also rose 31.1 percent annually to US$20 billion.
"Foreign capital should be better used to spur the growth of Shanghai's strategic industries, especially the service sector and advanced manufacturing," the guideline said. "Foreign investment should also help the city build itself into a global financial, shipping and trading center."
Shanghai hopes for another 150 multinational companies to set up their regional headquarters here by 2015 to add to the 353 already to cement its position as the biggest hub in China for foreign firms' regional headquarters.
Another 75 foreign-invested research and development centers may be set up.
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