BUSINESS Shanghai attracts record foreign capital in 2019

BUSINESS

Shanghai attracts record foreign capital in 2019

Xinhua

19:29, January 10, 2020

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File photo: CGTN

SHANGHAI, Jan. 10 (Xinhua) -- An estimated 19.05 billion U.S. dollars of foreign capital entered Shanghai in 2019, a new high in the city's history, the municipal government said Friday.

An average of over 52 million U.S. dollars of foreign capital was invested in Shanghai daily, as the regional headquarters of 720 foreign-funded multinational companies as well as 461 foreign-funded R&D centers landed in the city by the end of 2019.

A series of opening-up policies and business environment improvement contributed to the investment growth, according to the local government.

A total of 60 foreign investment projects worth over 7.3 billion U.S. dollars were signed Friday at a ceremony organized by the municipal government.

Among the signed projects, there were 39 in manufacturing with a total investment of 4.7 billion U.S. dollars, 20 mega-projects worth over 100 million U.S. dollars each, nine projects from Fortune 500 companies and nearly 20 regional headquarters projects.

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