Foreign Capital Absorption in Industry

　　January through September this year, Shanghai newly established 2,798 of foreign-invested projects, with contractual foreign capital of USD12.847b, up by 12.6% year-on-year. Among them, the increased capital stood at USD7.863b, up by 30.3%, accounting for 61.2%, with actual foreign capital in position of USD7.665b, up by 20.7% year-on-year. As of the end of September 2008, Shanghai had accumulatively approved 51,551 projects of foreign-invested enterprises, attracting contractual foreign capital of USD142.251b.

　　The major characteristics in utilizing foreign capital in the first nine months are that the industrial structure was further optimized, with the ratios of the primary industry, the secondary industry and the tertiary industry of 0.1%, 24% and 75.9% respectively; rapid development of the modern service industry drove the tertiary industry to grow significantly, with the financial service industry contractually utilizing foreign capital of USD323m, up by 65.8% year-on-year; economic projects of the headquarters maintain the good trend of development, with 50 foreign economic institutions of headquarters set up in Shanghai from January to September and most of R&D centers centralized in hi-tech areas, 7 of which are in biomedical area.