Shanghai's FDI posts gain for 2nd month
By Wang Yanlin |
June 27, 2013, Thursday
|
Print Edition
Print Edition
FOREIGN direct investment in Shanghai rose 12.5 percent from a year earlier to US$1.51 billion in May, the second month of double-digit growth, at a time when China's FDI expanded by less than 1 percent.
Contracted investment in the city's manufacturing sector, which accounted for nearly one-fifth of the total value, jumped 9.3 percent annually in May, according to the Shanghai Statistics Bureau. Investment in the service sector, taking up about four-fifths of the total, gained 3.4 percent.
Although Shanghai's FDI pace in May slowed from the 14.9 percent in April, 341 foreign-invested projects were still signed last month, the bureau said.
Jeffrey Wang, vice president of the Shanghai Foreign Investment Development Board, has cited the city's stable economic growth, its pro-foreign investment policy and a well-regulated business environment for it being a favorable spot for foreign capital.
Shanghai is the city where many reforms are tried out start, a point appealing to foreign investors.
Xu Quan, deputy director of the Shanghai Financial Services Office, said on Tuesday that the city is waiting for the central government to approve a pilot free trade zone in Pudong New Area, which will allow Shanghai to liberalize interest and exchange rates as well as some financial products on a trial basis.
The annual Lujiazui Forum will open in Pudong today and 156 speakers from around the world and more than 550 participants are expected to attend.
Contracted investment in the city's manufacturing sector, which accounted for nearly one-fifth of the total value, jumped 9.3 percent annually in May, according to the Shanghai Statistics Bureau. Investment in the service sector, taking up about four-fifths of the total, gained 3.4 percent.
Although Shanghai's FDI pace in May slowed from the 14.9 percent in April, 341 foreign-invested projects were still signed last month, the bureau said.
Jeffrey Wang, vice president of the Shanghai Foreign Investment Development Board, has cited the city's stable economic growth, its pro-foreign investment policy and a well-regulated business environment for it being a favorable spot for foreign capital.
Shanghai is the city where many reforms are tried out start, a point appealing to foreign investors.
Xu Quan, deputy director of the Shanghai Financial Services Office, said on Tuesday that the city is waiting for the central government to approve a pilot free trade zone in Pudong New Area, which will allow Shanghai to liberalize interest and exchange rates as well as some financial products on a trial basis.
The annual Lujiazui Forum will open in Pudong today and 156 speakers from around the world and more than 550 participants are expected to attend.
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