Shanghai Offshore Investment Hits $2.42b in 2010

Shanghai-based Chinese companies made a combined investment of more than $2.4 billion US dollars abroad in 2010, up 57 percent from the previous year.

The city remains 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 over 300 offshore investment projects were valued at more than $10 million US dollars.

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. The city's total offshore investment from 2006 to 2010 reached $5.8 billion.