Shanghai Reports Huge Influx of Overseas Investment

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Last updated at: (Beijing Time) Thursday, April 03, 2003

Shanghai Reports Huge Influx of Overseas Investment

During the first three months this year, the contracted overseas investment in Shanghai reached 3.393 billion US dollars, representing a 59.2-percent increase over the same period of last year.

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During the first three months this year, the contracted overseas investment in Shanghai reached 3.393 billion US dollars, representing a 59.2-percent increase over the same period of last year.

The newly approved overseas-funded projects in the city in the period numbered 984, rising 48.6 percent year on year.

A total of 2.084 billion US dollars was invested in the city's industrial sector, up 68.8 percent, and 1.304 billion US dollars in the service sector, up 48.3 percent.

Many large multinationals continued to expand their investment in Shanghai, and the number of projects each with over 10 million US dollars of investment exceeded 100.

Investment from Hong Kong was 726 million US dollars, the largest proportion of the total.

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