Latest News:  
Beijing   Cloudy/Overcast    12 / 5   City Forecast

People's Daily Online>>China Business

City's FDI defies trend, rises sharply for services

By Wang Yanlin (Shanghai Daily)

10:00, March 21, 2012

FOREIGN direct investment in Shanghai expanded vigorously last month, defying the national trend of falling investments from overseas, and officials attributed it to capital flowing into the services sector, especially for the Shanghai Disneyland project.

The city attracted a total of US$1.45 billion contracted foreign investment in February, up 29.3 percent from a year earlier, the Shanghai Statistics Bureau said.

The pace weakened slightly from the city's average of 31.1 percent last year but was faster than January's 12.5 percent and was much better than the national performance, which fell 0.9 percent in February over a year ago.

The number of new foreign projects in Shanghai fell 19.4 percent year on year to 175 units, as larger and more capital-intensive projects held sway.

"Shanghai has managed to brave the difficulties by continuously improving the city's business environment," said Wang Zehua, an analyst at the bureau. "Also, Shanghai has comparative advantages with its stable economic growth and a mature infrastructure for foreign investors, making them feel safer than investing elsewhere amid all the uncertainties."

Last month, US$1.27 billion, or nearly 90 percent of the total contracted FDI in Shanghai, was pumped into the city's services sector, up 25.2 percent from a year earlier. The bureau did not specify the destinations or origins of these foreign investments, but an official at the Shanghai Commerce Commission, who declined to be named, confirmed that a big source of the capital was for the Shanghai Disneyland project.

According to the National Bureau of Statistics, investment from the United States increased in both January and February, a sharp change from last year's drop of 26 percent.

Shen Danyang, a spokesman for the Ministry of Commerce, said earlier that this came largely thanks to investments put in position for the Shanghai Disneyland.

The core facilities of Shanghai Disneyland, including infrastructure of roads and pipelines, will be under construction next month. The first phase of the theme park will cost 24.5 billion yuan (US$3.8 billion).


Leave your comment0 comments

  1. Name


Selections for you

  1. Ancient Buddha statues unearthed in Hebei

  2. China’s Dead Sea: Yanchi in Yuncheng city

  3. Severe drought continues in Chongqing

  4. Frenchmen go for rides by tricycle in Shanghai

Most Popular


  1. Monk move in Nansha Islands new ploy by Vietnam
  2. Protectionism cannot save U.S. auto industry
  3. China continues to promote peace in Afghanistan
  4. Nuclear security cooperation
  5. Arms race will happen, but who to blame?
  6. Why China can't persuade N.Korea alone
  7. WTO's raw materials ruling reveals bias
  8. 21st Century classrooms needed for the future
  9. West's rare earth claim against China unreasonable
  10. Chinese economy vital for world

What's happening in China

Service center launched for private jets

  1. Taxi fares to remain
  2. Suicide note posted on blog after girl died
  3. 7 killed in central China expressway accidents
  4. Bank of China sets city as yuan-trading center
  5. China’s Botox backlash is about to hit a wrinkle

PD Online Data

  1. Spring Festival
  2. Chinese ethnic odyssey
  3. Yangge in Shaanxi
  4. Gaoqiao in Northern China
  5. The drum dance in Ansai