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Foreign Investment in Shanghai Soars to $2.4B

SHANGHAI-Attempts by the Chinese government to slow foreign investment appear to have had little effect.

By Anita Howarth | Updated on November 14, 2006

(To read more on the debt and equity markets, click here.)

SHANGHAI-Government measures have so far failed to slow foreign investment in Shanghai’s commercial real estate industry. New figures released by the Shanghai Municipal Statistics Bureau for the first three quarters of 2006 reveal the local real estate industry attracted $2.42 billion of inward investment, some 1.4 times that of the same period of last year.

Although the number of projects fell by 3.2% to 2,937, the volume of total investment from all investors topped $10.83 billion, growing 1.1%. Overseas companies have switched their strategy as the government made it more difficult for them to invest. Increasingly they have sought equity investments recognizing those as the best way to invest in the sector.

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