Central China City Reports Increasing Inflow of Foreign Funds

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Last updated at: (Beijing Time) Wednesday, May 28, 2003

Central China City Reports Increasing Inflow of Foreign Funds

With its favorable geographical location, Wuhan has been the biggest foreign investment recipient among major cities in central and western China for nine consecutive years since 1993.

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With its favorable geographical location, Wuhan has been the biggest foreign investment recipient among major cities in central and western China for nine consecutive years since 1993.

The latest statistics show that Wuhan approved 67 foreign-funded projects in the first four months this year, with involved contractual foreign investment totaling 520 million US dollars, a year-on-year increase of 235 percent.

A city with a population of more than 7 million and spanning the Yangtze River, China's longest river, Wuhan, capital of central China's Hubei Province, is an important transportation hubwith several north-to-south and west-to-east railway and highway arteries running through.

The amount of foreign investment used was 494 million US dollars in the first four months, a rise of 22.7 percent on a yearly basis, statistics show.

Wuhan approved 14 foreign-funded projects in April alone, with the used of amount of foreign funds topping 120 million US dollars.

In 2002, the city used 1.576 billion US dollars of foreign investment, a year-on-year rise of 10.1 percent.

More than 60 foreign-funded enterprises in the city increased their investment in 2002, with the total figure topping 248 million US dollars.

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