A total of 62 foreign invested projects signed agreements with the municipal government of Shanghai on Friday, marking the first batch of such foreign investment for the year 2021.

The total investment value of these projects amounted to $11.85 billion, covering industries like artificial intelligence, biomedicine, integrated circuit, digital economy, fashion and consumption. Up to 29 projects saw their respective investment amounts surpassing $100 million. Seven projects were from Fortune 500 companies, including one invested in by medical equipment and healthcare products provider Thermo Fisher Scientific.

By the end of last year, Shanghai had attracted a total of 771 multinational companies' regional headquarters and another 481 regional research and development centers.

Shanghai's Mayor Gong Zheng and vice-mayor Zong Ming attended the signing ceremony on Friday.