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Partnership lifts city's investment allure

By Wang Yanlin   (Shanghai Daily)

08:24, January 10, 2013

THE Shanghai Investment Promotion Partnership, which enhances two-way investment, has helped the city attract a record high level of foreign capital last year, a senior official said yesterday.

With 73 overseas investment-facilitating institutions as its members and another 26 members from the Chinese mainland, the partnership, created in May, also helped the city to invest globally at a broader and higher level.

"The mechanism, an innovation in Shanghai, has played an active role in strengthening cooperation and communication among local and overseas investment-facilitating institutions," Chen Xianjin, vice president of the Shanghai Commission of Commerce and secretary-general of the partnership, said at its annual meeting.

Last year, Shanghai attracted a record-high US$15.2 billion foreign direct investment, up an annual 20 percent. The outbound investment rose 22 percent to US$3.07 billion in the first 11 months of last year.

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