Beijing records US$2.26b of foreign investment (Xinhua) Updated: 2004-06-17 16:22
Beijing ratified 694 overseas-funded projects from January to May this year,
up 23.5 percent year-on-year, involving US$2.26 billion of contractual overseas
investment, up 110 percent year-on-year, according to the Beijing Municipal
Commerce Bureau on Thursday.
Thirty-four percent of the projects, or 237, are related to the manufacturing
sector, involving US$1.12 billion of contractual overseas investment, 3.9 times
the figure a year ago, noted the bureau.
The number of projects in the tertiary service sector amounted to 440, using
990 million dollars of contractual overseas investment, an increase of 30
percent year-on-year.
Thanks to the implementation of the Chinese mainland/Hong Kong Closer
Economic Partnership Arrangement (CEPA) as of the beginning of this year,
business people from Hong Kong funded 145 projects in Beijing from January to
May, a rise of 27 percent year-on-year, involving 410 million dollars worth of
contractual investment from Hong Kong, up 65 percent year-on-year.
