Shanghai foreign investment falls for 1st time in 18 yrs

Updated 2018-02-01 17:12:01 Xinhua

Foreign investment into Shanghai in 2017 dropped for the first time in 18 years due to control measures in the property and financial service industries.

China's financial and business center received 17 billion U.S. dollars of foreign investment last year, down 8 percent from 2016, the Shanghai Municipal Commission of Commerce said Thursday.

Foreign investment into the real estate and financial service sectors declined 40 percent and 23 percent, respectively, the commission said.

The business service sector, led by the regional headquarters of multinational corporations, attracted nearly 5 billion U.S. dollars of foreign investment, up 5 percent year on year, accounting for 29 percent of the total.

In 2017, Shanghai added 45 regional headquarters of multinational corporations and 15 foreign-funded research and development centers.

Meanwhile, the Shanghai Free Trade Zone received 6 billion U.S. dollars of foreign investment, up 6 percent. Last year, it opened more of the service sector to foreign investment.

The service sector in Shanghai received 95 percent of the total investment, a record-high percentage, it said.

Foreign investment in Shanghai had risen for 17 consecutive years by 2016 when it rose 0.3 percent.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58February 25 2018 23:48:36

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16February 25 2018 23:48:36

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18February 25 2018 23:48:36

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

Most Watched

News:
China World Business Sports Showbiz Audio
Video:
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
Photos:
China World Fun Travel Entertainment Sports
Travel:
Beijing Shanghai Guangzhou
Lifestyle:
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords