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Thursday, December 02, 1999, updated at 09:15(GMT+8)
Business Chengdu Attracts More Overseas Investment

Overseas investment in Chengdu, capital of southwest China's Sichuan Province, has increased over the past four years thanks to its improving investment environment and various preferential policies.

In the first ten months of this year, the city's overseas investment reached a record 190 million yuan (about 22.9 million U. S. dollars), up 43 percent over the same period of 1998.

Overseas investors were attracted by reports of high economic returns, according to a local official. The registered capital of a Singapore-funded firm, for example, increased by 10 times after three years' operation.

In 1998 alone, 18 multinational corporations channeled funds to Chengdu, and 47 corporations have branches in the city.

With a population of 9.98 million, Chengdu is the second largest city in southwest China after Chongqing in terms of GDP. Chengdu's GDP stood at 13.4 million US dollars in 1998. (Xinhua)

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