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Economy

Shanghai sees 99.39 pct rise in value of B&R foreign contracted projects in Q1

April 25, 2019


Abstract : Shanghai saw contract value of newly-signed foreign contracted projects rise 52.82 percent year on year in the first quarter of 2019, in which deals with countries and regions along the Belt and Road (B&R) route soared 99.39 percent on year.

BEIJING, April 25 (Xinhua) -- Shanghai reported a 99.39  percent year on year increase in contract value of foreign contracted projects newly signed with Belt and Road countries and regions in the first quarter of 2019,  while the total contract value of foreign contracts projects it signed in the period rose 52.82 percent.

According to Shanghai Municipal Commission of Commerce, Shanghai put on record 186 direct outbound investment projects in the first three months, in which B&R projects accounted for 10.9 percent of the municipality's total outbound investment.

In particular, ASEAN regions stood as the hottest spot, attracting 76.7 percent of Shanghai's registered outbound investment in B&R countries and regions in the period.

Shanghai has been actively participating in B&R construction and its trade with countries and regions along the B&R route grew 6 percent on year in 2018, taking up 20.6 percent of its total foreign trade. The year of 2018 also saw contract value of new foreign contracted projects in B&R countries and regions grow 20.4 percent on year, taking up 73.4 percent of the city’s total. (Edited by Niu Huizhe, niuhuizhe@xinhua.org)


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Keyword: Shanghai

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