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Overseas Investment Rises in Nanjing
Nanjing, capital of east China's Jiangsu Province, added 86 to the number of local overseas- invested companies in the first five months this year, a 24.6 percent rise on a yearly basis.
The five months saw the city absorb US$ 183 million of contractual overseas investment, up 87.7 percent on 1999 figure. The total amount included US$ 77 million of investment by existing overseas-funded projects.
Nanjing has now used investment from 27 countries and regions, with Hong Kong, U.S. and Japan on the top three in terms of their actual spending.
Overseas investors continued to give priority to investing in local industrial projects, involving 79.4 percent of the total contractual investment.
Of the new projects added during the five-month period, seven registered investment of more than US$ 10 million each, and 42 are new wholly-funded by overseas involving a total contractual investment of more than US$ 66 million, doubling the figure of the same 1999 period.
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