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Shanghai sees surging foreign investment in first half

08-15-2012 16:22 BJT

SHANGHAI, Aug. 15 (Xinhua) -- Shanghai attracted over 11.26 billion U.S. dollars in foreign investment in the first half of 2012, the municipal commission of commerce said Wednesday.

The figure marked a 15.8 percent year-on-year increase, with paid-in investment reaching 7.37 billion U.S. dollars, according to statistics released by the commission.

Shanghai saw a declining number of signed investment contracts in the first half, but still experienced an increase in the overall amount invested, according to the figures.p Zhao Beiwen, a researcher with the Shanghai Academy of Social Sciences, said both the quality and performance of the city's foreign investment have improved despite the effects of the global economic downturn.

Zhao said foreign direct investment in the city's manufacturing industry has increased, demonstrating that the city is becoming a hub for the modern manufacturing and service industries.

The statistics indicated that Shanghai's secondary industry attracted over 2.1 billion U.S. dollars in foreign direct investment in the first half, a 110-percent year-on-year increase, while 9.12 billion U.S. dollars went into the city's tertiary industry during that time.



Editor:James |Source: Xinhua

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