E. China Province Reports Rapid Growth in Foreign Investment

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Last updated at: (Beijing Time) Friday, June 13, 2003

E. China Province Reports Rapid Growth in Foreign Investment

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East China's Jiangsu province absorbed contractual foreign investment totaling 10.27 billion US dollars in the first five months of this year, up 67.6 percent year-on-year, ranking first in the country.

According to the provincial foreign economic and trade department, Jiangsu registered 2,588 foreign-financed enterprises between January and May, up 27.24 percent compared with the same period last year.

The province lured actual foreign investment of 5.534 billion US dollars during the period, representing a year-on-year 70 percent rise.

In May alone, the province ratified 492 new foreign-financed projects, of which about 70 involve investment exceeding 20 million US dollars.

The province absorbed contractual foreign investment of 1.664 billion US dollars in May, a 40 percent rise over April.

Foreign investors are showing increasing interest in investing in the province, and a large number of foreign-financed projects are expected to be signed in the near future, the source said.

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