SHANGHAI - Shanghai-based Chinese companies made a combined investment of $2.42 billion abroad in 2010, up 57 percent from the previous year, helping the metropolis remain a primary base for Chinese offshore investment during the past five years.
The latest data from the city's commerce bureau show that about 10 percent of last year's 301 offshore investment projects were valued at more than $10 million. These multi-million-dollar projects include the stake acquisition of Belgium-based Zeebrugge APM Terminals by Shanghai International Port Group Co, China's largest port operator.
Shanghai's offshore investment stood at only $530 million in 2006. It surged in the following four years. The city's total offshore investment from 2006 to 2010 reached $5.85 billion.
