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Shanghai reports inflow of $45.8b overseas investment(12/19/03)

    Shanghai has approved 31,800 overseas financed businesses in the city, and had seen an inflow of 45.8 billion US dollars of overseas investment by late Novemberthis year.

    Information from the Shanghai Municipal Committee for Overseas Investment said some 300 out of the world's top 500 companies haveinvested in this dynamic Chinese port city.

    And 53 multinationals have located their regional headquarters in Shanghai, including Bayer, Texas Instrument Semiconductor Technology and Otis Elevator.

    In the first 11 months of this year alone, the municipality approved 4,050 overseas-backed ventures, with contracts involving 10.43 billion US dollars of overseas investment, up 23.6 percent. Most of the overseas investments flowed into the service trade andindustry sector, according to the information.


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