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South China City Reports Rise in Overseas Investment
Dongguan City, a well-known export processing base in south China's Guangdong Province, had an inflow of US$208 million of overseas investment in the first two months of this year.
The volume represents a rise of 53 percent from the same period last year, said sources from Dongguan City Commission of Foreign Trade and Economic Cooperation.
According to the sources, the city approved 160 overseas-financed projects between January and February, 34 more than that in the same last year period.
Many of the existing overseas-backed businesses in the city also added investment in the first two months of the year, with the volume exceeding US$90 million, said Vice Mayor Zhang Shunguang, who is in charge of Dongguan's foreign trade and economic cooperation.
According to Zhang, investment from Taiwan into Dongguan is also increasing rapidly. Contracts for projects approved in January and February are worth about 40 million US dollars, up 121.6 percent from the first two months of last year.
Dongguan City is now home to 13,000 overseas-financed businesses, with investors from more than 20 countries and regions.
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