| New foreign investment projects mostly in Shanghai this year |
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| Friday,July 04,2008 Posted: 10:32 BJT(0232 GMT) |
| From:People's Daily Article type:Redistributed |
According to reports, from January to May this year, Shanghai approved 1,471 foreign investment projects; among which 1,320 were foreign-owned and occupy 89.7 percent of the total.
According to statistics from the Foreign Investment Working Commission of Shanghai Municipality, from January to May, Shanghai absorbed 6.87 billion U.S. dollars in contracted foreign capital, up 24.2 percent over the same period of last year. Among them, foreign-owned projects absorbed 5.772 billion U.S. dollars in contracted foreign capital, accounting for 84 percent of the total value of contracted foreign capital in the first five months.
Compared with foreign-owned projects, there were 136 new joint-venture projects approved in Shanghai in the first five months of this year, absorbing 903 million U.S. dollars in contracted foreign investment which accounts for 9.25 percent and 13.14 percent of the total respectively.
Statistics show that tertiary industries have become major sectors for foreign business investors in Shanghai. In the first five months, 1,262 projects had been approved: absorbing 5.013 billion U.S. dollars in contracted foreign capital; and up 66.9 percent than the same period of last year, especially investment focused on the modern services industry.
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