Foreign-financed Enterprises Boost Exports in E. China Province

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Last updated at: (Beijing Time) Sunday, June 01, 2003

Foreign-financed Enterprises Boost Exports in E. China Province

A huge number of foreign-financed enterprises in east China's Jiangsu province has played a major role in expanding local exports, with their exports accounting fortwo-thirds of the provincial total.

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A huge number of foreign-financed enterprises in east China's Jiangsu province has played a major role in expanding local exports, with their exports accounting fortwo-thirds of the provincial total.

During the first four months of the year, foreign-financed enterprises in Jiangsu registered a total of 10.29 billion US dollars in export earnings, up 52.6 percent year-on-year, accounting for 66.7 percent of the province's total in the same period. This represented an increase of 4.3 percentage points year-on-year, according to the provincial economic and trade department.

Statistics showed that, during the period from 1992 to 2002, Jiangsu's foreign-financed enterprises boosted export volume from 1.3 billion US dollars to 24.26 billion US dollars, an annual 200 percent increase.

Jiangsu's direct foreign investment now exceeds 60 billion US dollars, with 50 billion US dollars invested in the manufacturing sector.

The large number of massive and high-tech foreign-financed projects have effectively improved the province's industrial structures and sharply expanded its exports.

In 2002, some 34 foreign-financed enterprises in Jiangsu recorded respective export earnings of more than 100 million US dollars. Four of them earned more than 500 million US dollars, andtwo reached one billion US dollars.

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