Jiangsu most attractive to foreign investors: report

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Last updated at: (Beijing Time) Tuesday, October 07, 2003

Jiangsu most attractive to foreign investors: report

East China's Jiangsu Province has overtaken Guangdong, a southern economic power, as the top recipient of foreign investment in the first eight months of this year, latest statistics show.

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East China's Jiangsu Province has overtaken Guangdong, a southern economic power, as the top recipient of foreign investment in the first eight months of this year, latest statistics show.

During the period which saw the approval of 19 overseas-funded projects daily, Jiangsu led the country in both contracted and actual use of investment, according to the Jiangsu Provincial Bureau of Statistics.

The coastal province used 9.48 billion US dollars of overseas capital in the first eight months, up 68.3 percent year-on-year, while contractual overseas investment rose 43.2 percent to hit 18.12 billion US dollars.

The manufacturing industry remained the focus of foreign investors, accounting for eight percent of direct overseas investment.

Major overseas investors in Jiangsu include Hong Kong, Taiwan, Japan, the Republic of Korea, the United States and Australia.

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