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Another 247 Chinese Firms Set up in Shanghai
Another 247 Chinese companies have set up subsidiaries in Shanghai since the beginning of the year, with a total registered capital of 2.8 billion yuan (about 337 million US dollars).
They bring the total number of companies in Shanghai from elsewhere of the country to 12,000, with registered capital amounting to 40 billion yuan, according to official statistics.
In recent years, Shanghai has adopted a series of favorable policies to attract companies elsewhere to invest in the city. The policies cover taxation, land, loans, housing, as well as education for the children of employees.
Hot investment areas include trade, agriculture, stocks, real estate, consulting services, software development and the education industry.
Last year, companies from elsewhere generated more than 20 billion yuan of added value, contributing to 0.7 percent growth of Shanghai's gross domestic product (GDP).
A senior official at the Shanghai Municipal government said that Shanghai will allow more companies from elsewhere to invest in the city by adopting better policies and building a more attractive investment environment.
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