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Economic Zone
Draws Attention of '99 FGF Participants  Representatives
from 58 of the top 500 enterprises in the world as well as other Fortune Global Forum
(FGF) participants from the US, Europe, and the Asia-Pacific Region September 26
visited the Shanghai Minhang Economic Development Zone, and spoke highly of the economic
achievements made by the zone.
Huang Rong, general manager of the zone, told the '99 FGF participants that so far a total
of 142 overseas enterprises from some 18 countries and regions have set up joint ventures
in the Shanghai Minhang Economic Development Zone, absorbing a total of 1. 78 billion US
dollars of foreign investment.
The FGF visitors were deeply impressed by the favorable investment environment in the
zone, which has attracted a large number of overseas enterprises, one-third of which are
multinational firms. The multinationals include the American Xerox, Johnson & Johnson,
Squibb, Grace, Coca-Cola, Pepsi-Cola, UOP, Ingersoll-Rand, Sara Lee, and ITT ; the
Japanese Mitsubishi and YKK; the Swiss Novartis and Sulzer; the British Unilever and ICI;
Gambro of Sweden, Chia Tai of Thailand, Perfetti of Italy, Singer of Holland, and others.
The FGF participants were informed that the 121 enterprises operating in the zone have all
reported satisfactory economic achievements, and are engaged in a variety of sectors
including electronics, machine-building, medicine, chemicals, food and beverages,
textiles, and building materials. (Xinhua)
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