Foreign-Owned Projects Introduce More Overseas FundGuangzhou, capital of south China's Guangdong Province, added 169 projects wholly owned by overseas investors from January to June this year, a 20.7 percent rise on a yearly basis.The projects accounts for 54.5 percent of the total number of new overseas-funded projects in Guangzhou in the first half of this year. Those wholly foreign-owned projects used 408 million US dollars of direct overseas investment, accounting for 44.1 percent of the total introduced to the city in the first six months, a rise from 21.5 percent in the same period of 1999. On the contrary, the amount of overseas funds used by local Sino-foreign joint ventures and cooperative projects are on decline. Direct overseas investors in Guangzhou come from 42 countries and regions. The inflow of spending from Australia leaped by 620 percent compared with the same period of last year, the largest growth among all overseas resources. Followed were Singapore by rising 52 percent, and the US and Japan, both by 29 percent. |
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