China Travel & Tourism News
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Jiangsu draws US$100b of foreign investment
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| 15-Feb-2005 - Xinhua |
Jiangsu Province, an economic engine in East China, had used US$101.8 billion of foreign investment in real terms by the end of 2004, according to the provincial statistics bureau.
In 2004 alone, its service sector registered about US$5.2 billion of foreign capital, with the establishment of 877 businesses.
Meanwhile, the province approved the establishment of 6,188 foreign-funded businesses in the manufacturing industry, involving contractual investment of about US$33.5 billion.
Figures from the bureau indicate that 215 foreign-funded businesses set up in the past two years involve an investment of US$30 million each and 58 absorb more than US$100 million each.
Foreign investors also poured large amount of funds into 899 private businesses and another 500 in software-related industries. Out of the 500, 80 are R&D centers created by multinational corporations including Samsung electronics and Siemens AG.
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| 15-Feb-2005 - Xinhua |
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