Shanghai remains hot spot for foreign investment

Despite the global downturn due to the COVID-19 pandemic, China’s financial hub of Shanghai remains a hot spot for foreign investment. The city’s foreign capital inflows rose 6.1 percent year on year to about 15.52 billion U.S. dollars in the first three quarters of 2020, local authorities said Thursday. A total of 38 regional headquarters of foreign-funded multinational companies and 14 foreign-funded research and development (R&D) centers were established in Shanghai in the first nine months, raising their total numbers to 758 and 475 respectively, according to the Shanghai Municipal Commission of Commerce. Data showed that the nearly 60,000 foreign-funded…