Shanghai Attracts US$6bn Foreign Funds in First Half Year

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

Shanghai Attracts US$6bn Foreign Funds in First Half Year

Latest official figures show that in the first half of this year, Shanghai attracted foreign investment totaling more than 6 billion US dollars, up 40 percent year-on-year.

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Latest official figures show that in the first half of this year, Shanghai attracted foreign investment totaling more than 6 billion US dollars, up 40 percent year-on-year.

The number of newly approved foreign-financed projects in the first six months reached 2,486, up a considerable 85.2 percent compared with the corresponding period of the previous year.

Among these projects, some 201 are large-scale ones, which involve financial input of over 10 million US dollars each and 4.1billion US dollars of the total.

The figures also indicate that a majority of 61.5 percent of the foreign capital went to the manufacturing sector, up 38.7 percent year-on-year.

By the end of June, Shanghai had approved an accumulated 30,226 foreign-funded projects, absorbing contracted investment of 69.4 billion US dollars.

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