Shanghai exports soared in first quarter
7/4/2003 16:32
Shanghai exports have maintained rapid growth for the first quarter of
the year despite the US-led war in Iraq and global economic slump, with the
export volume amounting to US$9.1 billion from January to March, an increase of
34 percent from a year before.
According to statistics, exports of
state-owned, foreign-invested and private firms of the city grew by more than 20
percent in the first quarter of the year, especially for traditional
commodities, mechanic electronic products and high-tech products.
Exports
to the United States, Japan, European Union and Hong Kong Special Administrative
Region all grew rapidly.
Shanghai attracted US$3.393 billion in
contracted foreign funds from January to March this year, soaring by 59.2
percent from a year before, with those attracted by industrial sector and
service sector reaching US$2.084 billion and US$1.304 billion respectively, up
68.8 percent and 48.3 percent respectively from a year before, the statistics
indicated.
Multinational companies continue to expand investments in the
city and 108 projects, each with an investment of more than US$10 million, were
granted approval for the first quarter of the year, with total contracted
foreign funds of US$2.358 billion, up 79.7 percent from a year
before.
Shanghai will hold a conference for this year's new foreign
investment projects tomorrow, with 11 projects expected to ink deals with local
companies, valued at US$1.5 billion in total, with most having an investment of
US$30 million.
A growing number of exhibitions have been staged in
Shanghai since January 2 this year, attracting many foreign
businessmen.
Foreign trade companies in the city are gearing up for the
93rd China Export Commodities Fair, or 'Canton Fair" from April 15 to
30.
Wendy Zhang/ Shanghai Daily news
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