China's SEZ Attracts More Overseas Investment

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Last updated at: (Beijing Time) Monday, January 07, 2002

China's SEZ Attracts More Overseas Investment

With geographical advantages and improving investment environment, Xiamen, one of China's five special economic zones (SEZ), has attracted an increasing number of overseas investors. 26 of the world's top 500 enterprises have choosen Xiamen as important investment base.

Increasing number of investors

With geographical advantages and improving investment environment, Xiamen, one of China's five special economic zones (SEZ) in east China's Fujian Province, has attracted an increasing number of overseas investors.

As of September of the year 2001, business people from 44 countries and regions had invested in more than 5,200 enterprises in the city, with the contractual overseas investment volume reaching 18.4 billion U.S. dollars, according statistics provided by the city committee in charge of overseas investment.

An official with the committee said that many overseas-funded enterprises have added investment to expand production after achieving big profits in the SEZ.

Statistics show that a total of 1,188 overseas-funded enterprises in the city added investment between 1990 and October,2001 with the added volume of overseas investment totaling 3.904 billion U.S. dollars.

Large investment base

Xiamen has attracted the investment from 26 of the world's top 500 enterprises, including Dell, ABB, Kodak and Boeing. Dell has set up a China Clients Center and ABB has built the largest medium-voltage switch production and research base of Asia in Xiamen.

According to an evaluation results published recently, among the top 500 overseas-funded firms (calculated on the basis of their sales income volume) in China during the 2000-2001 period, 12 are located in Xiamen.

Many investors said that they are amazed at Xiamen's courage and efficiency demonstrated in its efforts to lure investment. They said that Xiamen is a good place to live and an ideal choice for developing businesses.

Xiamen Reports Foreign Investment Rebound

Xiamen reported a rebound in foreign investment utilization in the third quarter of 2001 after more than two and half years of consistent decline.

During the three months, the city newly approved 97 foreign- financed enterprises,, involving contracted investment totaling 358 million U.S. dollars, and actually putting 530 million to use.

In September alone, Xiamen used 245 million U.S. dollars of foreign capital, the highest amount since the start of this year.

Local officials attributed the success to a series of measures taken by relevant departments since June this year to facilitate foreign investment.

Statistics show that in the first nine months of 2001, Xiamen approved a total of 254 foreign-funded projects, involving 989 million U.S. dollars of contractual investment and putting 914 million to use, up 19 percent and 31 percent respectively.

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