Qingpu attracts foreign money
11/8/2004 15:39
Qingpu District achieved rapid development in foreign investment and
export-oriented trade during the first half of this year.
In the past six
months, 121 foreign-invested enterprises have been approved with a contracted
foreign investment of US$727 million, up 14.4 percent from a year
earlier.
"Compared with last year, the number of large foreign-invested
projects has increased so far this year," said Pan Hailin, director of the
district's Foreign Economic Commission.
A total of 35 projects, each with a
contracted foreign investment of more than US$5 million, have been launched
during the period.
The total value of contracted projects amounts to US$560
million, accounting for 77.4 percent of the district's overseas
investment.
The largest project is a US$198.8 million investment from a
health products company.
According to Pan, a large amount of the foreign
investment comes from the district's six industrial zones, including the
municipal-level Shanghai Qingpu Industrial Zone and five township industrial
parks around the district.
"Most industries are now flocking to these parks
thanks to the reduction of commercial costs and other preferential policies
offered," he said.
For example, in the first half of this year, Shanghai
Qingpu Industrial Zone has attracted contracted foreign-investment of more than
US$473 million.
Several main industries in the district include information
technology, biological medicine, fine machinery and metal
products.
Investment from Europe is also at an all-time-high.
"Though the
district's overseas investment still relies mostly on investment from Asian
countries and regions such as Japan, Korea, Hong Kong and Taiwan, a
distinguished fact is that so far, investment from European countries, including
Germany, France and Italy, has become more and more noticeable," Pan said.
In
the past six months, investment from European countries in Qingpu has reached
US$78.85 million, up 240 percent year-on-year.
While positively attracting
overseas investment, the district is also developing its export-oriented economy
quickly.
So far this year, the district's export trade has reached US$1.28
billion, up 40 percent from a year earlier.
"Apart from those companies that
traditionally perform well, nowadays more and more enterprises in Qingpu,
especially those privately-owned enterprises, have acquired import and export
licenses," Pan said. "This has had a major impact on the district's rapid growth
in exports."
Zhang Yi
|
