May 21, 2019

Shanghai sees steady foreign investment growth in Q1

Foreign investment growth in Shanghai was steady in the first three months of 2019. The city gained 1,411 foreign-funded projects in the first quarter, up 43.4 percent from a year earlier.

Shanghai attracted a total contractual foreign investment of US$14.1 billion and actual foreign investment of US$4.468 billion in the first quarter, an increase of 33.7 percent and 20.3 percent, respectively, year-on-year.

High-end service industries such as business service and scientific technology service grew continuously. In the first quarter, actual foreign investment in the business service industry increased 19.2 percent from a year earlier to US$1.84 billion, accounting for 41.2 percent of all foreign investment.

The Shanghai Free Trade Zone introduced 307 foreign-funded projects with actual foreign investment of US$1.254 billion, up 22.3 percent year-on-year and 2 percentage points higher than that of the city. The Pudong New Area and Hongkou, Putuo, and Jiading districts led in the foreign investment amount.

Shanghai is promoting institutional reforms such as the negative list for foreign investment launched by the FTZ to attract more foreign investment. By the end of last year, the city boasted 670 regional headquarters and 441 research centers of transnational enterprises.