(ATF) – Shanghai saw foreign capital inflows of about $4.67 billion during the first quarter, up 4.5% year-on-year, the municipal government said in a statement on Wednesday.
In the same period, 10 regional headquarters of foreign-funded multinational companies and five foreign-funded R&D centres opened in the eastern megacity.
In total, the regional headquarters of 730 foreign-funded multinational companies, as well as 466 foreign-funded R&D centres were operating on in Shanghai by the end of March, statistics from the municipal commission of commerce showed.
A total of 129 foreign investment projects valued at more than $23.9bn had been signed in two separate ceremonies organised by the Shanghai municipal government in January and March.
As a financial hub, Shanghai has unveiled a number of new measures to facilitate the development of foreign enterprises, including easing market access as part of its efforts to further spur growth and minimise the impact of the coronavirus outbreak.
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