Beijing Reports Growing Influx of Foreign Investment

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Last updated at: (Beijing Time) Friday, July 18, 2003

Beijing Reports Growing Influx of Foreign Investment

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The Chinese capital of Beijing attracted 304 million US dollars in foreign investment in the first half of the year, up 29 percent year-on-year, according to the latest statistics from Beijing Customs.

Beijing Customs figures show that 66 foreign-financed enterprises registered in the customs in the first six months of this year, 34 of which are Sino-foreign joint ventures involving a total investment of 214 million US dollars. The remaining 32 enterprises were established with 100 percent foreign financing.

By the end of June, Beijing had approved 8,305 foreign-financed enterprises.

Statistics also show that 21 of the newly-approved foreign-financed enterprises have set up operations in the Zhongguancun district, dubbed Beijing's "Silicon Valley", which is replete with high-tech and foreign-funded enterprises.

The combined investment of the 21 enterprises reached 121.49 million US dollars, up 85.5 percent year-on-year.

Investors from the United States, Germany, China's Hong Kong Special Administrative Region and other countries and regions in the world have invested in the fields of telecommunications, electronics and educational programs involving high-tech personnel.

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