Fixed assets investment in Pudong New District, Shanghai has seen major changes in investment structure, investors, and investment patterns this year, helping to promote upgrades in the economy, reported Pudong Times on April 27.

Investment in social welfare has shown a significant presence. In the first quarter, the authority of Pudong district invested 4.4 billion yuan ($678 million) in social welfare projects, an increase of 50 percent year on year. 600 million yuan ($93 million) and 700 million yuan ($107 million) were put into education, health and social insurance respectively.

Private sector investment increased, too. As companies took advantage of preferential policies, private capital gained more access to fixed asset investment. In the first quarter, private enterprises spent 10.9 billion yuan ($1.7 billion), accounting for 30.9 percent of Pudong's total investment. The investment portfolio covers a wild range of sectors, including agriculture, manufacturing, tourism, culture, trade, and finance service.

Statistics showed 1.7 billion yuan ($262 million) has been invested in technical reform and equipment purchasing, making up 42.3 percent of industrial investment. Key enterprises, like Huahong Grace, SMIC, and GM, raised their investment in technical reform for researching new products. Increasing technical reform investment helps enterprises develop sustainably.