Domestic Enterprises Keen On Investment in Shanghai
Shanghai has seen the establishment of 11,500 enterprises funded by companies from elsewhere in the country with total registered capital of more than 40 billion yuan. These enterprises generated a combined 30 billion yuan in output value last year, contributing nearly one percent to Shanghai's 10.2 percent GDP growth rate for the year.
The increasing flow of domestic investment into Shanghai is due to the city's introduction of favorable policies for domestic investors in loans, housing, citizenship, and education for their children. Legend Group, a Beijing-based computer giant, realized 700 million yuan in output value in Shanghai in 1997, as much as 1.2 billion yuan in 1998, and up to 2 billion yuan last year.
Domestic enterprises have been focusing their investment in Shanghai in such sectors as services, agriculture, stocks, real estate, consultancy, software development, and education.
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