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SCMP Reporter

CANADIAN companies visiting the mainland with the current trade delegation will be offered about 20 projects totalling about US$1 billion (HK$7.72 billion) by Shanghai authorities, the Vice-Mayor of Shanghai, Sha Lin, said.

  Mr Sha said the projects would range from manufacturing through to infrastructure.

  Canadian Prime Minister Jean Chretien is currently in China with representatives of 250 companies and is expected to witness the signing of up to 70 major trade deals during his six days on the mainland.

  Mr Sha said the level of foreign investment in Shanghai has this year grown by around 37 per cent with major deals having recently been finalised with Ford and General Electric.

  According to Xinhua (the New China News Agency), 44 multinational companies invested in the city, in the first seven months of this year.

  They are estimated to have invested about US$1.26 billion in the city's state-owned industrial sector.

  Around 146 foreign companies have invested more than US$3.77 billion in 281 projects in the region.

  Mr Sha said: 'More and more international and well-known companies are investing here. Around six per cent of the projects in Shanghai account for about 70 per cent of the investment.'   While the companies would be offered the deals, he did not confirm whether they would be accepted on present conditions.

  Shanghai has world's third most expensive offices after central Tokyo and Hong Kong.



Deals on offer to Canada