Shanghai going all out to become preferred global investment place

The 2024 Shanghai Global Investment Promotion Conference has once again boosted the confidence of overseas and domestic enterprises who plan to invest in Shanghai. As many as 21 new projects involving an investment of 52.4 billion yuan ($7.24 billion), covering key industries such as biomedicine, new energy, general aviation and semiconductors, were introduced to Shanghai through the collective signing ceremony during the conference on Friday.

Actually, Shanghai signed 42 key projects with a total investment of 343.5 billion yuan in the first quarter alone, continuing the momentum of investment growth from last year. As some observers said, enterprises that choose Shanghai for their development get access to an international market, global resources, open policies and better development opportunities. More important, Shanghai has not only seen increased foreign investment, but also an accelerated transfer of foreign investment to the high-end links of the industry chain, which will further enhance the confidence and motivation of foreign enterprises in China.

Shanghai launched a global investment partnership program a few years ago, inviting a number of renowned global enterprises and business institutions to participate, as part of its efforts to strengthen global resource allocation, innovate investment promotion methods, and broaden investment channels. Foreign institutions have joined and helped Shanghai attract dozens of major industrial projects.