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Qingdao Keeps Momentum in Absorbing Overseas Fund
China's eastern coastal city Qingdao has successfully maintained its momentum in attracting overseas funds.
Statistics show that the city had approved over 420 overseas- funded projects by the end of May, involving a total 1.7 billion U. S. dollars of contracted investment.
The amount of actually used overseas funds reached 590 million U.S. dollars, up nearly 30 percent year-on-year.
The increase is primarily attributed to the Asian countries, with Singapore, Japan and the Republic of Korea standing prominently.
While flowing mainly into manufacturing, overseas funds used in the agricultural sector also reported a sharp increase.
Meanwhile, the city's foreign trade also registered a rapid growth.
According to local customs, foreign trade volume totaled 5.4 billion U.S. dollars in the first five months, up 36.7 percent over the same period last year.
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