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Telecommunications Top Foreign-Funded Companies
The manufacturing of electronic and telecommunications equipment has become the biggest sector of overseas investment in China in terms of output, capital and assets.
According to the National Bureau of Statistics, the sector saw a gross industrial output value of 402.6 billion yuan in 1999, nearly tripling that of the second largest foreign-funded sector of transport equipment and the third largest sector of electric equipment and machinery.
Overseas investors hold 88.9 billion yuan in total capital in the electric and telecommunications equipment companies, which had total assets to the value of 343.8 billion yuan at the end of 1999.
In terms of the number of enterprises, the garments and other fiber products sector is the largest with a total of 2,864 enterprises in China at the end of 1999. It was followed by the textile industry, 2,032, and the manufacturing of electronic and telecommunications equipment industry, 1,940.
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