District attracts more foreign investment
By Guan Wenfei and Ding Yining |
December 26, 2011, Monday
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Print Edition
Print Edition
JIADING District has attracted more foreign investment this year as 188 new foreign investment projects were approved, up 27.9 percent from 2010, and US$1.1 billion in foreign capital was invested in the district.
The service sector was the biggest beneficiary of foreign investment while more overseas companies chose to set up their Chinese headquarters in Jiading.
ADT Security Ltd became the first foreign security services company to establish a branch in Shanghai, which was located in Malu Town. The company designs and implements public security projects, sets up regional alarm systems and does security risk assessments. The industry giant has invested 60 million yuan (US$9.09 million) in Jiading.
Jiading has actively adjusted its industrial structure in order to attract tertiary services since the beginning of this year. From January to November, 149 tertiary service projects were attracted, accounting for 79.3 percent of newly approved projects. Service industry contracts were valued at US$815 million or 73.5 percent of the total contracted foreign investment.
Recently, the research and development center of Sapa Heat Transfer (Shanghai) Ltd, which is located at Jiading Industrial Zone, has been upgraded to Sapa Technology Center (Shanghai). The new center provides direct technical services and R&D support to the Asia market. It targets a turnover of 2 billion yuan in the China market within three years.
Thus far, 35 foreign companies have set up headquarters in the district, including five investment companies, 11 management companies, 14 R&D centers, three sales centers and two equity investment management companies.
The service sector was the biggest beneficiary of foreign investment while more overseas companies chose to set up their Chinese headquarters in Jiading.
ADT Security Ltd became the first foreign security services company to establish a branch in Shanghai, which was located in Malu Town. The company designs and implements public security projects, sets up regional alarm systems and does security risk assessments. The industry giant has invested 60 million yuan (US$9.09 million) in Jiading.
Jiading has actively adjusted its industrial structure in order to attract tertiary services since the beginning of this year. From January to November, 149 tertiary service projects were attracted, accounting for 79.3 percent of newly approved projects. Service industry contracts were valued at US$815 million or 73.5 percent of the total contracted foreign investment.
Recently, the research and development center of Sapa Heat Transfer (Shanghai) Ltd, which is located at Jiading Industrial Zone, has been upgraded to Sapa Technology Center (Shanghai). The new center provides direct technical services and R&D support to the Asia market. It targets a turnover of 2 billion yuan in the China market within three years.
Thus far, 35 foreign companies have set up headquarters in the district, including five investment companies, 11 management companies, 14 R&D centers, three sales centers and two equity investment management companies.
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