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 | Saturday, April 22, 2000, updated at 12:04(GMT+8) | ||||||||||||
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Foreign Investment Shows Vigorous Growth in BeijingForeign investment grew vigorously in Beijing in this year's first quarter.Beijing has approved 213 foreign-funded enterprises and contracted funds from the enterprises amounting to 550 million U.S. dollars, growing 61.3 and 42 percent respectively over the same period last year. Of the newly-approved foreign-funded enterprises, 97 are solely foreign-funded, with contracted funds of 135 million U.S. dollars, increasing by 132 and 194 percent respectively. A spokesman for the Beijing Municipal Commission of Foreign Trade and Economic Cooperation said that the drastic growth of solely foreign-funded firms in Beijing is new for the first quarter. He said that the investment from Asia and the United States was also on the increase; their contracted funds reached 255 million U. S. dollars, rising 95.4 percent year-on-year. More than one third of the foreign investment in the first quarter aimed at high technology projects and computer web programs, he said. Six of the enterprises spent 30.54 million U.S. dollars to develop web services. Statistics showed that by the end of March, there were 14,949 foreign-funded enterprises in the city and contracted investment reached 28.31 billion U.S. dollars, with the actual foreign investment hitting 19.12 billion U.S. dollars. The investment sources are from 99 countries and regions in the world, with the most funding coming from Hong Kong, the United States, Japan, European Union, Taiwan, Singapore and South Korea.
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