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More Foreign Investment in North China Province
North China's Shanxi Province approved 71 new overseas-funded enterprises involving US$225 million of contractual investment in 2000, according to the latest statistics.
The investors came from North America, Europe, Taiwan, Hong Kong and some other countries and regions. Over half of the investment was used in seven key sectors, including high-tech, energy and metallurgical industries, which were selected for industrial structural readjustment.
Of all the joint ventures, a Shanxi-Hong Kong company invested US$78.55 million in a steel project with an annual output capacity of 800,000 tons. Another project, which will produce 400,000 tons of pollution-free coal every year, took in an investment of some US$29.6 million.
Local official departments have managed to improve the service quality and efficiency for overseas investors, which helped to attract more overseas enterprises to the province.
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