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Old Industrial Base Draws Record Foreign Investment
Actual-used overseas investment in northeast China's Liaoning Province, a traditional industrial base and the heartland of State-owned enterprises (SOEs), amounted to some 2.52 billion US dollar last year, increasing 11 percent from 1999.
The contractual overseas investment rose 16.2 percent to hit 5. 28 billion US dollars in 2000, a record high in Liaoning's history.
The contractual investment of the processing industry and real estate projects accounted for about 80 percent of the total volume, while the rest is used in high-tech projects.
Some 200 newly authorized projects had introduced more than 5 million US dollars in foreign investment, including 62 projects each with an investment of over 20 million US dollars.
Liaoning opened its market to the world 21 years ago. The participation of international investors has helped activate the local economy, which was dragged down badly by debt-ridden SOEs.
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