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Shanghai Attracts 15,000 Outside Enterprises
More than 15,000 enterprises, from other cities and provinces, have settled in Shanghai, China's leading industrial and commercial center.
According to the latest statistics, the enterprises added up to a total registered capital of near 50 billion yuan (US$6 billion).
Last year the city saw the setup of 2,502 enterprises, founded by non-Shanghai people and each with a registered capital above one million yuan (US$120,000). The 2502 enterprises had a total registered capital of 9.6 billion yuan (US$1.2 billion), up 90 percent and 160 percent respectively from the previous year.
The statistics show that outside-Shanghai enterprises chiefly invested in commerce, manufacturing and services.
The enterprises turned out one eleventh of the GDP (gross domestic product) for the city and added one percent to Shanghai's economic growth rate, according to statistics.
Since the middle of the 1980s, Shanghai has concentrated on attracting investment from outside Shanghai, while it also drew in overseas capital to push the local economy. Those enterprises founded by non-Shanghai people could enjoy same treatment as local enterprises in tax and business opportunities.
The city is going to deepen its opening-up to other cities and provinces in the country, attracting more enterprises and investment, local officials said.
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