The Pudong New Area attracted foreign investment of nearly US$5.1 billion in the first half of this year, a year-on-year increase of 8.52 percent. And 14 regional headquarters of multinational corporations (including three Asia Pacific headquarters) settled in the area, up 16.7 percent on year, the Pudong government said.
It added that there are 373 regional headquarters of transnational enterprises in total in Pudong, accounting for 46.5 percent of the city.
The foreign investment environment has improved in Pudong, which has attracted more investments and projects.
During the period, 53 percent of the foreign-funded projects increased their investment and the average registered capital of these projects reached US$14.83 million, higher than the US$8.98 million in new projects.
With the recent signing of the regional comprehensive economic partnership (RCEP) agreement, many member states, such as Singapore and Japan, have increased their investment in Pudong, an increase of 249.7 percent and 51 percent year on year, respectively.
Many projects are related to biomedicine and medical devices (78) and the information technology service industry (90), increasing 69.6 percent and 45.2 percent annually, respectively.
It said that Pudong will further promote and better use foreign investment to serve and expand the new development pattern. Based on six programs like the Global Operation Program and the overflow effect of the China International Import Expo, the new area will also focus on the headquarters economy, especially in the integrated circuit, biomedicine, artificial intelligence and digital economy fields, and provide high-quality service and system to lure more foreign investors.
