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Shanghai's foreign investment rises 6.8% in Jan-Nov

Xinhua | Updated: 2020-12-18 11:34
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Highrises dominate the skyline on both sides of the Huangpu River in Shanghai. [Photo by Gao Erqiang/China Daily]

SHANGHAI - Shanghai saw accelerated foreign investment growth in the first 11 months of this year as overseas investors looked to cash in on business opportunities.

The actualized use of foreign investment in Shanghai rose 6.8 percent year-on-year to $19.04 billion in the January-November period, the Shanghai Foreign Investment Association said on Thursday.

The increase during the period accelerated from the 6.2 percent growth in the January-October period.

Shanghai will further expand its opening-up and strive to provide better, more convenient and more efficient services to help foreign businesses share the development opportunities in the city, said Shang Yuying, deputy secretary-general of the Shanghai municipal government.

Currently, Shanghai has nearly 60,000 foreign-funded enterprises, which contribute over one-quarter of the city's gross domestic product and more than one-third of its tax revenue.

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