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HomeLatestOver 2,500 new overseas companies established in Shanghai in H1

Over 2,500 new overseas companies established in Shanghai in H1

SHANGHAI, Aug. 2 (Xinhua) — A complete of two,541 new foreign-funded enterprises had been established in China’s monetary hub Shanghai through the first half (H1) of 2023, a rise of 63.3 p.c yr on yr, information from the municipal bureau of statistics reveals.

During the interval, the precise utilization of overseas capital within the metropolis exceeded 12.7 billion U.S. {dollars}, up 7.1 p.c yr on yr. Among the investments, about 96.2 p.c went to the tertiary sector, a rise of 6.1 p.c from the identical interval in 2022, the bureau stated.

The majority of overseas capital was utilized in info expertise, scientific analysis and expertise providers, in addition to leasing and enterprise providers industries. The Hong Kong Special Administrative Region, Singapore and Japan ranked within the prime three when it comes to the precise quantity of overseas funding utilized in Shanghai in H1.

Shanghai has solidified its place as a most popular overseas funding vacation spot and continues to keep up its foothold as town with probably the most concentrated regional headquarters and foreign-funded R&D facilities of multinational companies on the Chinese mainland.

As of June, Shanghai is house to 922 regional headquarters of multinational companies and 544 foreign-funded R&D facilities, in response to statistics from the Shanghai Municipal Commission of Commerce.