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Private Firms in East China Draw Overseas Investment
Private enterprises in Zhejiang, a booming coastal province in east China, has drawn an increasing number of overseas investors this year.
Recent statistics show business people from overseas invested some 45.88 million US dollars in more than 100 private enterprises in the province during the first half of the year.
This brings the total number of joint ventures in Zhejiang's private sector to 741 and the amount of overseas investment to 352 million US dollars.
Private businesses reemerged in the province since China launched its reform and opening-up drive in the late 1970s.
The province now has 5,895 private enterprises engaged in production for export. They exported more than 1.45 billion US dollars worth of goods during the January-June period.
Private enterprises in Zhejiang has expanded their market to Japan, the Republic of Korea, the United States and some European countries.
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