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Last updated at: (Beijing Time) Tuesday, December 17, 2002

Shanghai's Pudong Attracts Multinationals

Foreign companies from 82 countries and regions have started up 8,397 businesses in Pudong New District of Shanghai, China's leading industrial and commercial center, since the district was set up in 1990.


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Foreign companies from 82 countries and regions have started up 8,397 businesses in Pudong New District of Shanghai, China's leading industrial and commercial center, since the district was set up in 1990.

Sources from the Pudong Overseas-Funded Businesses Association said those businesses had brought total investments of 42 billion US dollars.

Among them, 174 of the American Fortune magazine's top 500 companies had invested in 328 projects in Pudong with total investments of 11.2 billion US dollars.

Most of the overseas companies are from the United States, Japan, Germany and France.

French telecommunications giant Alcatel officially set up its sixth global research and development (R&D) center and its first in the Asia-Pacific Region, in Pudong last week after launching its Asian and Pacific business headquarters there last year.

Niel Ransom, Alcatel chief technological officer, said Pudong was the right choice for commercial success. With all its advantages, it had become an international place with a highly dynamic economy.


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