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Beijing's actual use of foreign funds up 34.2%
(Xinhua)
Updated: 2005-10-01 11:09

Beijing materialized 2.52 billion US dollars of foreign investment in the first eight months of this year, a yearly increase of 34.2 percent, according to the municipal statistics bureau.

The contractual foreign investment the city recorded in the same period dropped by 9.4 percent to 4.15 billion US dollars, indicates the latest figures of the bureau.

Meanwhile, a total of 1,340 foreign-funded enterprises were approved in Beijing, a year-on-year rise of 14.9 percent.

According to the bureau, the foreign investment mainly flew to the tertiary industry, with 1.77 billion US dollars already in place, up 54.9 percent year-on-year.

The foreign investors mainly came from the other parts of Asia, the Virgin Islands and the United States, which altogether took up 68 percent of the total foreign-funded projects approved in the eight-month period, the bureau said.

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