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Increasing Inflow of Foreign Funds into Chongqing
Chongqing Municipality, southwest China, used US$2.64 billion in real terms in the past five years, up 49.8 percent from the previous five years, according to official statistics available Friday, Feb 2.
The city's revenue from foreign-funded enterprises has accounted for 18 percent of its total.
Foreign-funded enterprises have become a new growth area in the local economy, where more than 100,000 people work. Currently, 28 of the world's top 500 industrial enterprises have invested in Chongqing.
Last year, the city approved 91 foreign-funded enterprises, involving US$210 million of foreign funds in contractual terms. About 40 percent of the total foreign investment went to the tertiary sector.
Government sources said that in the coming five years, Chongqing will introduce more foreign funds to build large infrastructure facilities, for environmental protection and for high-tech industries.
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