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Coastal City Attracts Billions in Overseas Fund
China's eastern coastal city Qingdao has seen a steady increase in the amount of overseas funds used.
Statistics show that the city had approved over 10,000 overseas-funded projects by the end of the last year, involving a total of US$8.1 billion.
Accumulative direct overseas investment in the city hit US$13.7 billion in contractual volume, while actual funds used totaled US$6.5 billions.
To date, more than 3,300 overseas-funded enterprises have settled in Qingdao, employing 380,000 people. Last years overseas-funded enterprises exported US$4.4 billion worth of goods.
Overseas fund flows mainly into manufacturing, which accounts for 65 percent of the total overseas investment, the service industry, accounting for 30 percent, and agriculture, which accounts for 5 percent.
Overseas capital comes mainly from Asia and North America.
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