Pudong's foreign capital in actual use increases in H1

A view of Shanghai's Pudong New Area. [Photo/WeChat account: pdnews]

The actual use of foreign capital in Shanghai's Pudong New Area reached $5.09 billion in the first half of the year, with a year-on-year increase of 8.52 percent, according to the local commerce bureau.

In the first six months of the year, Pudong became home to 14 new regional headquarters of multinational companies, including three Asian headquarters. The number increased by 16.7 percent year-on-year. Currently, there are 373 multinational regional headquarters located in Pudong, accounting for 46.5 percent of the city's total.

Under the RCEP framework, foreign investment from RCEP members to Pudong saw a sharp increase. Foreign registered capital from Singapore and Japan to Pudong increased by 249.7 percent and 51 percent respectively.

From January to June, among Pudong's newly established and increased capital projects, 78 were related to the biomedicine and medical equipment industry, while 90 were related to the information technology service industry, representing a year-on-year increase of 69.6 percent and 45.2 percent respectively.

Officials said that Pudong will work to attract more leading headquarters companies in the fields of integrated circuits, biomedicine, artificial intelligence, cloud computing, blockchain, and industrial internet in the future.

Pudong will focus on six major action plans, including the Global Operator Plan and the International Economic Organization Cluster Plan, to provide high-level institutional supply and high-quality service supply to global investors.