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Overseas Investors Report More Profits in East China
Overseas-funded enterprises in east China's Jiangsu Province have reported more than 5.18 billion yuan (about 624 million U.S. dollars) in profits for the first five months of the year, a year-on-year surge of 80.4 percent.
Local experts say this indicates an improving business environment for overseas investment in the province.
Jiangsu has approved some 22,500 overseas-funded businesses over the past two decades. Over 16,000 are operational.
More than 100 of the world's top 500 corporations have already opened subsidiaries in the province. These businesses are engaged in a wide variety of industries such as information technology, machinery, chemicals, and pharmaceuticals.
According to the provincial statistics bureau, overseas-funded companies in Jiangsu generated 25.52 billion yuan (about 3.07 billion U.S. dollars) in industrial added value during the January- May period this year.
Encouraged by growing economic returns, about 600 of the overseas-funded businesses in the province have increased their investments by 2.13 billion U.S. dollars since last year.
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