E. China province attracts most foreign investment

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Last updated at: (Beijing Time) Wednesday, March 10, 2004

E. China province attracts most foreign investment

Jiangsu Province in east China last year outperformed Guangdong Province in south China to become the top beneficiary of foreign direct investment (FDI) in the country for the first time.

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Jiangsu Province in east China last year outperformed Guangdong Province in south China to become the top beneficiary of foreign direct investment (FDI) in the country for the first time.

About 20.8 billion US dollars was registered as contracted foreign investment for 7,301 newly approved FDI projects in Jiangsu in 2003, a year-on-year growth of more than 56 percent and25.9 percent respectively, according to figures from the provincial Bureau of Statistics.

By the end of 2003, Jiangsu had approved the establishment of 57,297 foreign-invested enterprises and actually used 77.67 billion US dollars in foreign capital, or 13 percent of the nation's total, including 15.8 billion US dollars of actual investment.

Electronics and telecommunications equipment manufacturers in Jiangsu drew the most FDI, accounting for 6 billion US dollars, or 20 percent of the province's new contracted foreign investment.

Last year, most big investors in Jiangsu came from Hong Kong, the Virgin Islands, Taiwan, the United States and Japan.

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