SHANGHAI: Shanghai’s contracted foreign direct investment shot to US$58.9 billion last year, up 86 percent on an annual basis to a record high, thanks in part to reform programs in the pilot free trade zone, the Shanghai Commission of Commerce said.
There were 2,800 foreign-funded projects signed last year in the free trade zone, with a contracted value of more than US$35 billion, according to the commission.
The performance meant that Shanghai remains the most attractive destination for foreign investors in China, especially for those in the services sector, where investment accounted for 86.3 percent of the total value.
By the end of last year, Shanghai attracted 535 multinational companies to locate their regional headquarters in the city, along with 396 research and development centers.
