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The choice destination for investments(一)
2018-12-02 00:18:52 author: 【big in small browse:204Secondary

The influx of foreign investments has been growing significantly over the past decades in Shanghai. 


With a slew of new measures to boost the efficiency of its business environment, the city is poised to retain its position as a hotbed for foreign capital, say experts


From the beginning of China's reform and opening-up in 1978 to the end of October this year, Shanghai has attracted more than 95,000 foreign-invested projects with the amount of capital utilized hitting $237.6 billion, according to statistics released last week by the Shanghai Municipal Commerce Commission.


The data also shows that the influx of overseas investment has gathered pace throughout the years. For instance, Shanghai took 18 years to hit the first $50 billion mark, while the second threshold was achieved only six years later. The following thresholds for $150 billion and $200 billion landmark took just three years each.


"This shows that foreign enterprises have grown to become important engines for the advancement of Shanghai's economic growth," said Shang Yuying, director of the commission, at a gathering last week to commemorate the contribution of multinational corporations to the city's economic vibrancy.


"Foreign businesses act as critical forces to adjust industrial structure, promote science and technological innovation and enhance urban functions."


The influx of foreign investment, which has been one of the main driving forces of Shanghai's economy over the past four decades, will continue to pick up momentum as a slew of preferential policies will be rolled out to further improve the city's business environment, according to municipal government officials and business representatives in the city.


Some of these policies were mentioned by President Xi Jinping during the China International Import Expo in early November. They include the expansion of the China (Shanghai) Pilot Free Trade Zone to advance investment and trade liberalization, the launch of a technology innovation board and an experimental registration-based initial public offerings mechanism.


These initiatives, along with the commitment to bolster development in the Yangtze River Delta region, will catapult Shanghai to the forefront of leading global city clusters, said Ma Chunlei, vice secretary-general of the municipal government.


"Shanghai welcomes enterprises from all over the world to set foot in the city, establish a presence in the Yangtze River Delta region and train their sights on the whole of China to share the dividends of the region's integration," he said.


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