Foreign giants fire up

　　THE municipal trade bureau said investment by multinationals in Shenzhen has surged since last year, and they are moving orders worth of billions of dollars to the city.Presently 90 of the global top 500 giants have made their presence in Shenzhen and newcomers continue to follow each month. Ten multinationals among the top 500 made investments in Shenzhen in the first half of this year.They not only set up factories, but also bring a great number of orders.Multinationals such as Intel, Cisco and Sony have transferred their orders, originally for Malaysia, Mexico and Japan respectively, to Shenzhen’s Foxconn, which will see its exports surge to US$3 billion this year.IBM has also moved its component production from Japan, South Korea and Australia to Shenzhen, and transferred part of the orders from Britain to Shenzhen.The company is planning to move all its British production facilities here, according to the Shenzhen Economic Daily. As a result, Shenzhen-based IIPC, IBM’s subsidiary, has seen its exports soaring.Shenzhen had become the choice of multinational companies who want to set up export-oriented factories on the Chinese mainland, the Daily said, quoting unidentified sources from a number of multinationals.(Peng Zhaoxia)