Briefly

New energy storage projects' capacity up

Installed capacity of new energy storage projects in China that were put into operation during the first half of this year reached 8.63 million kilowatts, equivalent to such installed capacity created until the end of 2022, the National Energy Administration said on Monday. The new units entailed direct investment of more than 30 billion yuan ($4.2 billion), based on current market price, said Liu Yafang, an NEA official.

Foreign-funded firms increase in Shanghai

In the first half of this year, Shanghai's new foreign-invested companies grew more than 63 percent year-on-year to 2,541, the city's Municipal Bureau of Statistics said. The actual utilization of foreign capital exceeded $12.77 billion, up more than 7 percent year-on-year. The tertiary sector accounted for $12.29 billion, up more than 6 percent year-on-year. In the sector, the IT industry used $3.31 billion in foreign capital, the most for any industry, up nearly 18 percent year-on-year, followed by scientific research and technology services (nearly $2.64 billion, up 2 percent), leasing and business services ($2.4 billion, down 21.5 percent). In early April, Shanghai rolled out 20 measures, including providing preferential tax policies and subsidies, to further facilitate the establishment of foreign-invested firms and more effective use of foreign capital.