This year, Shanghai has been doing its best to stabilize foreign investment in the face of a global economic recession and the serious impact of the COVID-19 pandemic. From January to November, the city attracted a total actual investment of US$19.035 billion, with a yearly growth of 6.8 percent.
In the first 11 months, Shanghai attracted a total contracted foreign investment of US$47.165 billion, a 2.7 percent gain from a year earlier. The Shanghai Pilot Free Trade Zone and the Lingang New Area actually introduced US$7.604 billion, up 19.2 percent year-on-year, accounting for 39.9 percent of Shanghai's total, playing a leading and supporting role in the city's foreign investment introduction.
Since the 13th Five-Year Plan, the proportion of foreign investment in Shanghai's modern service industry, advanced manufacturing industry and strategic emerging industries has been increasing continuously.
From January to November, the actual foreign investment in Shanghai's service industry was US$17.933 billion. The actual foreign investment in the high-tech service industry, mainly in information and technology services, accounted for 30.9 percent of the total foreign investment in the service industry.
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