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24 foreign-funded projects worth over US $2.1 billion signed in Shanghai
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14:28, December 05, 2008

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Twenty four foreign-funded projects worth a total investment of US $2.168 billion were signed in Shanghai on December 4. Even under the intensifying international financial crisis, numerous foreign business people still have confidence in the Shanghai and Chinese market.

According to Sha Hailin, deputy secretary general of the Municipal Government of Shanghai and director general of Shanghai Municipal Commission of Commerce, the 24 newly-signed foreign-funded projects attracted US $880 million of foreign investment. Among these 24 projects, five projects had a total investment of over US $100 million while four projects attracted investment from Fortune 500 corporations such as AREVA from France, Marubeni and Mitsubishi of Japan, and GlaxoSmithKline of the UK. The investment projects mainly focused on sectors such as the service industry, R&D centers and real estate.

According to statistics from the Shanghai Municipal Commission of Commerce, from January to November this year, both foreign investment contracts and actual realized foreign investment of Shanghai hit all-time highs. Shanghai has attracted foreign investment contracts worth US $15.838 billion, and an actual realized foreign investment of US $9.3 billion, increasing 18.3% and 25% respectively compared to the same period last year. Foreign investment attracted in the whole year is expected to reach a new record high.

By People's Daily Online



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