Shanghai, the leading industrial and business center in China, approved 4,458 overseas-funded projects in 2001, with contractual overseas investment hitting a record high of US$7.37 billion, up 35.5 and 15.4 percent, respectively, on a yearly basis.
The total foreign capital actually used jumped 39 percent to US$4.39 billion last year, according to the municipal government.
Solely overseas-funded projects involved a combined contractual investment of US$4.48 billion, accounting for 60.8 percent of the city's total for 2001.
The manufacturing industry was the major aim of overseas investors, which received US$5.51 billion of the total contractual foreign investment, up 13.6 percent over the previous year.
Japan, Switzerland, Hong Kong and the United States are among the top sources of overseas investment to Shanghai last year.
(Peopl's Daily January 21, 2002)
