Shanghai attracts more foreign investment in 2020

Police officers wearing personal protective equipment (PPE) stand guard near the Zhaotong Road neighborhood, placed under lockdown due to Covid-19 cases, in Shanghai, China, on Friday, Jan 22, 2021. Residents of an area of Shanghai have been banned from leaving the city after six Covid cases were found in the finance hub, the first cases there in almost two months. - Bloomberg

SHANGHAI, Jan. 24 (Xinhua): Despite global economic fallout from the Covid-19 pandemic, Shanghai has seen growth in both foreign trade and the actual use of foreign capital in 2020, with more regional headquarters of multinational companies and foreign R&D centers newly set up in the city.

Speaking at the ongoing fifth session of the 15th Shanghai Municipal People's Congress, Gong Zheng, mayor of Shanghai, noted that the city's foreign trade in 2020 increased 2.3 percent year on year, with imports and exports volume totaling 3.5 trillion yuan (US$540 billion).