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yunyou 发表于 2007-9-21 19:03

Multinationals enamored of Shanghais Pudong district




                        
         
        
        Multinationals enamored of Shanghai's Pudong

      district

  

  

   

      <p> 

      <p>Early before world media focused their attention on this east China municipality,where theNinth Asia-Pacific Economic Cooperation Economic Leaders Meeting was held

      successfully,global companies like Intel,GE and Bell had already been attracted to the city's economic nerve center,Pudong New District.</p>

      <p>  Located in the eastern part of Shanghai and with a population of some 1.5million in an area of 522square kilometers,Pudong has won global capital's trust because of

      its continuous development momentum.</p>

      <p>  Since its establishment 11years ago,the district has introduced more than 7,000foreign investment projects from nearly70countries and regions,with total investment

      hitting USbillion.</p>

      <p>  Overseas-funded enterprises have contributed more than 50percent to the district's gross domestic product,revenue and exports.</p>

      <p>  As Japan,the European Union and the United States witnessed a lingering downturn in economy and reports of dwindling investment were rife earlier this year,Pudong

      saw rises in both export valueand the use of foreign funds from January to August.</p>

      <p>  During this period,557foreign-funded projects were approved,up 25percent on an annual basis;and they involved a contractual foreign investment of US.3billion,up

      73percent yearon year.</p>

      <p>  Last month,Intel announced a plan to spendUSmillion expanding its chip production line in Pudong.</p>

      <p>  Chen Junsheng,vice-president of Intel,said,&quot;The enlarged investment of Intel not only represents its satisfaction with its past performance in Pudong,but also

      indicates its hopes to betteravail itself of the district's advantages in future.&quot;</p>

      <p>  Of the world's top 500multinationals,146have invested in more than 200projects in Pudong.Twenty-five of the multinationals have moved their regional headquarters in

      the district and established a number of technological development organizations and trading companies there.</p>

      <p>  Over the past two years,foreign-funded enterprises in Pudong have kept increasing investment,with the additional investment accounting for nearly 40percent of the

      district's total foreign funds.</p>

      <p>  Besides,some 600investment companies have swarmedsintosPudong,with operating capital totaling 100billion yuan (about US.05billion).</p>

      <p>  The latest survey by the Fortune magazine revealed that 92percent of multinationals are prepared to set up business headquarters in China,and 25percent of them favor

      Pudong.</p>

      <p>  Among the elements which make a large corporation decided to invest in China are its potential for long-term development,legalenvironment,work efficiency and to what

      extent it can follow international practices.</p>

      <p>  Pudong,widely recognized as a key bridge connecting the domestic and international markets,has long served as the nation's vanguard for joining global competition.</p>

      <p>  With comprehensive advantages in geography,infrastructure,investment environment and human resources,experts predict,Pudong will replace Hong Kong and Singapore in

      10years as the preferred place for multinationals to set up their Asia-Pacific headquarters.</p>

      <p>  To realize this goal and meet the challenges posed by China's entrysintosthe World Trade Organization,Pudong has taken the leadin Shanghai in reforming its

      examination and approval procedures for foreign-invested projects by cutting unnecessary formalities,allowing direct registration of enterprises with the relevant

      authorities,slashing red tape and guaranteeing a low-cost investment environment stressing fair play.</p>

      <p>  Pudong has also mapped out eight preferential policies to encourage foreign-funded production companies and investment institutions.</p>

      <p>  Zhou Yupeng,vice-mayor of Shanghai,said that Pudong will strive to become China's leading economic center,especially in the fields of enterprise management,cost

      control,capital management and technical innovation.</p>

      <p>  Zhou said Pudong will redouble its efforts to improve the service industry by developing diversified financial services,modernizing its distribution sector and

      boosting consultation business,so as to create a better investment environment for bothglobal and domestic capital.</p>

      <p>  Early before world media focused their attention on this east China municipality,where theNinth Asia-Pacific Economic Cooperation Economic Leaders Meeting was held

      successfully,global companies like Intel,GE and Bell had already been attracted to the city's economic nerve center,Pudong New District.</p>

      <p>  Located in the eastern part of Shanghai and with a population of some 1.5million in an area of 522square kilometers,Pudong has won global capital's trust because of

      its continuous development momentum.</p>

      <p>  Since its establishment 11years ago,the district has introduced more than 7,000foreign investment projects from nearly70countries and regions,with total investment

      hitting USbillion.</p>

      <p>  Overseas-funded enterprises have contributed more than 50percent to the district's gross domestic product,revenue and exports.</p>

      <p>  As Japan,the European Union and the United States witnessed a lingering downturn in economy and reports of dwindling investment were rife earlier this year,Pudong

      saw rises in both export valueand the use of foreign funds from January to August.</p>

      <p>  During this period,557foreign-funded projects were approved,up 25percent on an annual basis;and they involved a contractual foreign investment of US.3billion,up

      73percent yearon year.</p>

      <p>  Last month,Intel announced a plan to spendUSmillion expanding its chip production line in Pudong.</p>

      <p>  Chen Junsheng,vice-president of Intel,said,&quot;The enlarged investment of Intel not only represents its satisfaction with its past performance in Pudong,but also

      indicates its hopes to betteravail itself of the district's advantages in future.&quot;</p>

      <p>  Of the world's top 500multinationals,146have invested in more than 200projects in Pudong.Twenty-five of the multinationals have moved their regional headquarters in

      the district and established a number of technological development organizations and trading companies there.</p>

      <p>  Over the past two years,foreign-funded enterprises in Pudong have kept increasing investment,with the additional investment accounting for nearly 40percent of the

      district's total foreign funds.</p>

      <p>  Besides,some 600investment companies have swarmedsintosPudong,with operating capital totaling 100billion yuan (about US.05billion).</p>

      <p>  The latest survey by the Fortune magazine revealed that 92percent of multinationals are prepared to set up business headquarters in China,and 25percent of them favor

      Pudong.</p>

      <p>  Among the elements which make a large corporation decided to invest in China are its potential for long-term development,legalenvironment,work efficiency and to what

      extent it can follow international practices.</p>

      <p>  Pudong,widely recognized as a key bridge connecting the domestic and international markets,has long served as the nation's vanguard for joining global competition.</p>

      <p>  With comprehensive advantages in geography,infrastructure,investment environment and human resources,experts predict,Pudong will replace Hong Kong and Singapore in

      10years as the preferred place for multinationals to set up their Asia-Pacific headquarters.</p>

      <p>  To realize this goal and meet the challenges posed by China's entrysintosthe World Trade Organization,Pudong has taken the leadin Shanghai in reforming its

      examination and approval procedures for foreign-invested projects by cutting unnecessary formalities,allowing direct registration of enterprises with the relevant

      authorities,slashing red tape and guaranteeing a low-cost investment environment stressing fair play.</p>

      <p>  Pudong has also mapped out eight preferential policies to encourage foreign-funded production companies and investment institutions.</p>

      <p>  Zhou Yupeng,vice-mayor of Shanghai,said that Pudong will strive to become China's leading economic center,especially in the fields of enterprise management,cost

      control,capital management and technical innovation.</p>

      <p>  Zhou said Pudong will redouble its efforts to improve the service industry by developing diversified financial services,modernizing its distribution sector and

      boosting consultation business,so as to create a better investment environment for bothglobal and domestic capital.<br>

      </p>

      <p> </p>

      

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