China (Shanghai) Pilot Free Trade Zone in the city's Pudong New Area proves to be an ideal destination for overseas investors, attracting 1,231 foreign investments during the first half year of 2016, accounting for nearly half of the city's total. [Photo/Pudong Times]

China (Shanghai) Pilot Free Trade Zone (FTZ) in the city's Pudong New Area is proving to be an ideal destination for overseas investors, attracting 1,231 foreign investments during the first half year of 2016, accounting for nearly half of the city's total.

Thanks to the driving force of the FTZ, the city of Shanghai also saw an increase of foreign investment by winning 2,671 foreign-invested projects in the first half of the year.

The investments made in R&D and regional headquarters projects rose drastically at 16 billion yuan ($2.4 billion) and $211 million, with a year-on-year growth of 145 percent and 107.4 percent respectively.

According to the statistics from Shanghai Municipal Commission of Commerce, Shanghai became home to 23 regional headquarters, eight investment companies and six R&D centers of multinational corporations during the first half of 2016.

The financial and information service industries also witnessed significant growth, with actual investment amount reaching $1.1 billion and $816 million respectively, up 137.2 percent and 90.1 percent year-on-year.