Wednesday, April 12, 2000, updated at 10:21(GMT+8)
Business
This Spring Sees Brisk Foreign Investment in Shenzhen
Shenzhen, known as the window of China's reform and opening up, still sees an enthusiastic investment by foreign entrepreneurs this spring. The approved foreign investment projects during the first quarter reach 425, a growth of 56.8% as compared to the same period of last year, the utilizing amount of foreign capital under contracts values US$0.67 billion, a rise of 31.6%. With the countries in Southeast Asia extricating themselves from the predicament of Financial Crisis and the speeding up of China's accession into WTO the enthusiasm of foreign firms to make investment in Shenzhen began to turn round again.
As informed by Shenzhen Foreign Capital Bureau on April 8, the number of newly approved foreign investment projects as compared to the same period of last year is increasing with every passing month in which big projects are in the majority. At the same time, existing foreign-funded enterprises vie to add investment. The orientated investment is concentrated in the manufacturing industry such as electronic and communications equipment. However, under the influence of the slack market and limitation in different business fields, the utilization of foreign capital in real estate saw a downturn of hundred percent.
Shenzhen, known as the window of China's reform and opening up, still sees an enthusiastic investment by foreign entrepreneurs this spring. The approved foreign investment projects during the first quarter reach 425, a growth of 56.8% as compared to the same period of last year, the utilizing amount of foreign capital under contracts values US$0.67 billion, a rise of 31.6%. With the countries in Southeast Asia extricating themselves from the predicament of Financial Crisis and the speeding up of China's accession into WTO the enthusiasm of foreign firms to make investment in Shenzhen began to turn round again.
