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Last updated at: (Beijing Time) Sunday, January 20, 2002

Shanghai Absorbs More Overseas Investment

Shanghai, the leading industrial and business center in China, approved 4,458 overseas-funded projects in 2001, with contractual overseas investment hitting a record high of 7.37 billion U.S. dollars, up 35.5 and 15.4 percent, respectively, on a yearly basis.


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Shanghai, the leading industrial and business center in China, approved 4,458 overseas-funded projects in 2001, with contractual overseas investment hitting a record high of 7.37 billion U.S. dollars, up 35.5 and 15.4 percent, respectively, on a yearly basis.

The total foreign capital actually used jumped 39 percent to 4.39 billion U.S. dollars last year, according to the municipal government.

Solely overseas-funded projects involved a combined contractual investment of 4.48 billion U.S. dollars, accounting for 60.8 percent of the city's total for 2001.

The manufacturing industry was the major aim of overseas investors, which received 5.51 billion U.S. dollars of the total contractual foreign investment, up 13.6 percent over the previous year.

Japan, Switzerland, Hong Kong and the United States are among the top sources of overseas investment to Shanghai last year.





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