Shanghai鈥檚 FDI edges up marginally
Print Edition
SHANGHAI’S foreign direct investment edged up 0.4 percent from a year earlier to US$1.32 billion in February, decelerating from an increase of 3.8 percent a month earlier, according to the Shanghai Statistics Bureau.
Contracted foreign investment in the month expanded 11 percent to US$5.3 billion, indicating more funds are in the pipeline. Among the contracted investment, the service sector attracted US$5.14 billion, up 28.9 percent on an annual basis. There were only three foreign investment projects in the manufacturing sector in February, but their combined value was US$170 million, jumping 44.2 percent year on year.
“Foreign investment in Shanghai remains stable,” the bureau said in a statement. “The policies have been supportive and transparent, ensuring more foreign investors to stay with the city.”
In Shanghai’s 13th Five-Year (2016-2020) Plan, the city will focus on advanced manufacturing, which is an integral part of the economy. The manufacturing sector will contribute 25 percent or more of the city’s gross domestic product.
Shanghai is working to become a center for scientific and technological innovation with global influence by 2020. In the first two months of this year, China’s foreign direct investment rose 2.7 percent, moderating from the increase of 6.4 percent in 2015.
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