上海这个吸引外资规模最大的行业，凭什么逆势高增长

Core Insights - Despite a global decline in foreign direct investment (FDI), Shanghai has seen a structural upgrade and adjustment in the actual use of foreign capital [1] Group 1: Foreign Investment Trends - In the first seven months of 2025, Shanghai established 3,624 new foreign-invested enterprises, a year-on-year increase of 3.1%, while the actual use of foreign capital amounted to $9.933 billion, a decrease of 11.1% compared to the previous year [1] - The leasing and business services sector emerged as the largest recipient of foreign investment, with an actual use of foreign capital reaching $4.872 billion, reflecting a growth rate of 65.8% [1] - The leasing and business services sector has maintained double-digit growth since becoming the largest sector for foreign investment in 2024, with a 47.7% increase in the first half of 2025 and a total of $7.183 billion in 2024, marking a growth of 55.8% [1] Group 2: Sector Performance - In 2023, the top three sectors for actual foreign capital usage in Shanghai were information transmission software and IT services ($5.359 billion, 6% growth), leasing and business services ($4.610 billion, -23.5% decline), and scientific research and technical services ($4.602 billion, -21.1% decline) [1] - The leasing and business services sector was in a negative growth phase in 2023, despite its current high growth trajectory [1] Group 3: Headquarters Economy - The growth in foreign investment is attributed to the development of Shanghai's headquarters economy, with an increasing number of multinational companies establishing regional headquarters in the city [2] - As of May 2023, Shanghai saw nearly 2,500 new foreign-invested enterprises and actual foreign capital usage exceeding $7.6 billion, with a total of 1,042 regional headquarters and 605 foreign R&D centers established [2] Group 4: Support Measures - To accelerate the development of the headquarters economy, Shanghai has implemented various support measures, including the establishment of a fund for multinational company headquarters development [3] - The revised management measures for the headquarters development fund include early-stage support, capability enhancement rewards, functional rewards, innovation platform rewards, and capital increase rewards [3] - Specific support is available for regional headquarters or business unit headquarters projects with a registered capital of at least $30 million and a minimum of 10 employees, as well as for global R&D center projects with at least 50 dedicated R&D personnel [3]