Shanghai seals deals on foreign investment, R&D, multinational headquarters

SHANGHAI, Feb. 27 (Xinhua) -- Shanghai added 34 regional headquarters of multinational companies, 17 foreign-funded research and development (R&D) centers, and 63 foreign investment projects on Tuesday, said local authorities.

Meanwhile, the first batch of 10 "global partners for foreign investment promotion" were registered in the city.

A signing ceremony for the various deals was held in the city on Tuesday.

The 63 newly signed foreign investment projects posted a total investment of some 6.47 billion U.S. dollars, covering key industries like biomedicine, electronic information, automobiles, digital economy and so on, said the Shanghai Municipal Commission of Commerce.

Statistics show that Shanghai's actual use of foreign capital in 2023 reached 24 billion U.S. dollars, a record high. As one of the world's most attractive destinations for foreign investment, by the end of January this year, Shanghai had 962 regional headquarters of multinational companies and 563 foreign-funded R&D centers.