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Shanghai remains top destination for foreign investment

Despite a global downturn over the COVID-19 pandemic, China's financial hub, the city of Shanghai, continues to be a hot destination for foreign investors, Radio China reported.
The flow of foreign capital into the city increased 6.1% year-on-year to $15.52 billion in the first three quarters of 2020, local officials say.

A total of 38 regional headquarters of multinational companies and 14 foreign-funded research and development centres were established in Shanghai during the first nine months of the year, bringing the number to 758 and 475 respectively.

Data show that nearly 60 thousand companies with foreign capital in Shanghai contribute more than a quarter to the city's GDP, over a third of tax revenues and by about two-thirds to the volume of foreign trade.

To attract more investment, Shanghai will campaign during the International Import Exhibition, which will take place between 5 and 10 November, where it invited guests from foreign companies, investment agencies and other tied institutions.

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