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East China Province Lures Multinationals
East China's Fujian Province, which faces Taiwan across the Taiwan Straits, is set to absorb more capital from multinationals, especially the world's top 500 corporations.
An official with the Fujian Provincial Department of Foreign Trade and Economic Cooperation said overseas funds will mainly be directed to such areas as upgrading state-owned enterprises, high- tech industries, infrastructure, and the environmental protection.
The province is to send a number of investment promotion teams to some 10 foreign countries, including Germany, Italy, France, the Netherlands, Israel, and the United States, this year.
A trade and investment fair targeting multinationals will also be held in Hong Kong in October.
So far 43 of the world's top 500 corporations have opened subsidiaries in Fujian, with a total investment of 2.3 billion U.S. dollars. Most of the ventures are engaged in the industries of machinery, electronics, petrochemicals, garments, food, and transportation.
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