(Yicai Global) Dec. 28 -- Shanghai will have absorbed more than USD20 billion of foreign investment for the first time this year, the city government said at a press conference today.

Shanghai absorbed more than USD92 billion of foreign capital in the past five years, accounting for about a third of the city’s total foreign investment over the period.

Over the five years, 236 regional headquarters of multinational companies and 85 foreign research and development centers have landed in Shanghai, the government also said.

Editor: Peter Thomas