Jiangsu continues to lead in use of overseas money
( 2003-11-29 13:35) (Xinhua)
East China's Jiangsu Province
has retained its position as the country's leading user of overseas money, as
growing international investment flows into the Yangtze River delta area.
From January to October in 2003, Jiangsu ratified 5,881 new overseas-funded
projects, up 25.7 per cent year-on-year, using US$24.5 billion of contractual
overseas investment, up 51.5 per cent, according to the provincial foreign
economy and trade department.
The projects include 1,259 costing more than US$10 million each and 79
costing more than US$30 million each, and 27 each at more than US$100 million.
The previously established 1,359 overseas-funded enterprises added a combined
US$3.2 billion to their contractual investment during the period.
The influx of overseas money mainly went to high-tech, high- value-added
projects, especially those in information technology, new materials,
bio-pharmaceutical projects and the development of environment-friendly and
energy-saving items.
Basic construction, warehouse, logistics and consulting services, as well as
research and development facilities have become new magnets for overseas
investors.
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