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One Thousand Overseas-funded Enterprises Settle in East China City
By late March, a total of 1,000 overseas-invested enterprises had been put into operation in the city of Kunshan in east China's Jiangsu Province, sources said.
The city has absorbed US$10.2 billion in contracted overseas investment.
Since 1985 when the first overseas firm debuted in the city, Kunshan has made a great leap forward and become a hot spot for overseas investment.
Kunshan now has a state-level economic development zone and an export-oriented processing zone, with precision machinery, and fine chemical and electronic industries as the most developed industries.
For instance, overseas investment in the electronic sector has exceeded US$2 billion, and a base expected to yield 10 million notebook computers will soon take shape in the city, according to local officials.
Kunshan has benefited tremendously from the export-oriented economy, with 60 percent of its revenue and 95 percent of its trade volume coming from the overseas-invested enterprises, sources said.
According to statistics, the city's GDP reached 20 billion yuan (US$2.4 billion) last year, with the per capita share exceeding US$4,000.
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