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 | Thursday, April 27, 2000, updated at 16:12(GMT+8) | ||||||||||||
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Shanghai's Manufacturing Sector to Use More Overseas FundsChina's leading industrial city of Shanghai has decided to introduce more overseas capital to its manufacturing sector this year.An official with the local government said that overseas capital will mainly be directed to various new and high-tech industries and the upgrading of traditional pillar industries. Overseas investors are especially encouraged to engage in the manufacturing of such high-tech products as integrated circuits, high definition plasma displays, and optical fiber, the official said. According to the official, Shanghai will further expand its sources of overseas capital and pay special attention to the quality of investment use this year. Major well-performing local manufacturers are to go public either at home or abroad. A number of investment promotion teams will also be sent to the United States and several European countries to raise funds.
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