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Auto Fair Draws Large Sum of Investment
The Shenyang Auto Industry Fair opened Thursday in this capital of northeast China's Liaoning Province, and scored contracted investment of 29 million US dollars the same day.
The three contracts signed on the opening day involved local manufacturers and auto makers in Taiwan and the Republic of Korea.
The automotive industry has seen a considerable increase in the city in recent years. Official statistics show that at the end of last year, the output of cars, car parts and the related sectors reached 18 billion yuan (2.17 billion U.S. dollars), accounting for one tenth of the city's total industrial output. The city mainly manufactures compact cars, sedans and trucks.
Sources with the organizing committee said that overseas business delegations from many countries and regions, including the Republic of Korea, Japan, Singapore and the United States, are attending the fair.
The host of the fair, the Municipal Economic and Trade Commission, has offered 62 projects for foreign bids. The projects cover sectors related to the auto industry, such as chemicals, rubber, textiles and electronics.
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