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Shanghai's utilized FDI up 14.6% in Oct

Nov. 23, 2012 (China Knowledge) - Shanghai, one of the four municipalities directly under China's Central government, saw its utilized foreign direct investment or FDI increase 14.6% YoY to US$1.21 billion in October this year.

Last month, the city approved 333 units of foreign-invested firms with contracted foreign investment of US$1.54 billion, up 2.4% YoY.

In the first ten months of this year, the city's utilized FDI surged 21.4% from a year earlier to US$13.48 billion. The number of newly-approved foreign-invested firms reached 3,106 units for the period with contracted foreign investment of US$19.09 billion, 12.4% more than in the corresponding period of last year.

From January to October, the city approved 2,935 foreign-invested firms in service industry with contracted foreign investment of US$15.98 billion, up 9.6% YoY.

During this period, Shanghai saw contracted foreign investment from Asian countries hit US$14.4 billion, increased 29.9% YoY, and those from the E.U. and the U.S. reached US$1.34 billion and US$1.42 billion, up 6.9% and 6.5% YoY, respectively.

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