Shanghai's paid-in foreign investment up 6.2% in Jan-Oct

SHANGHAI -- Shanghai's paid-in foreign investment rose by 6.2 percent year-on-year in the first ten months of the year, authorities said Thursday.

The actualized use of foreign investment in Shanghai reached about $17.2 billion from January to October, according to figures released by the Shanghai Municipal Commission of Commerce at a ceremony for multinationals and foreign-invested research and development centers in Shanghai.

Shanghai authorities have issued China's first local regulation regarding foreign investment, streamlining investing procedures for foreign investors, and protecting their rights and interests more comprehensively.

Shanghai currently has 763 regional headquarters of multinationals and 477 foreign-invested R&D centers.