Overseas Chinese entrepreneurs shift investment focuses

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Last updated at: (Beijing Time) Friday, February 13, 2004

Overseas Chinese entrepreneurs shift investment focuses

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Chinese investors from around the world are shifting their investment to the Yangtze River Delta, Beijing and Tianjin municipalities, Bohai Bay area and large cities in inland China, said a leading overseas Chinese entrepreneur.

T.C. Wu, president of China Expo (USA) Inc., told a seminar on investment by Chinese-funded enterprises and regional cooperation,that traditionally more than 90 percent of businesses in Hong Kongand Macao invested in south China's Guangdong Province.

They had gradually expanded their scope to other coastal areas.The majority of Taiwan investors cast their eyes from Guangdong toShanghai and Jiangsu, Fujian and Zhejiang provinces, while Chinese entrepreneurs in Southeast Asia and the United States favored Guangdong, Jiangsu, Fujian and Shandong provinces, Beijing and Shanghai municipalities and the Bohai Bay area.

By the end of 2003, the investment brought to China by overseas enterprises exceeded 500 billion US dollars, 65 percent of which was provided by overseas Chinese.

Wu predicted that China would see an upsurge of investment as aresult of the 2008 Olympics Games in Beijing and the 2010 World Expo in Shanghai.

By 2010, the amount of contractual investment signed between Chinese and foreign firms would be 2 trillion US dollars and that of actual foreign funds would reach 1 trillion dollars. Overseas Chinese entrepreneurs would be major investors, Wu said.

Large inland cities had a strong appeal to small and medium-sized overseas enterprises and inland cities would be advised to prepare to open more areas to foreign investors and improve the investment environment.

The seminar was held in Guiyang, capital of southwest China's Guizhou Province.

Source:Xinhua

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