Utilization of foreign capital
In 2000, foreign direct investment (FDI) had increased by 138.4 per cent in total approved contract value compared to 1999. A total of 1146 FDI contracts were approved that year. Of these projects, 409 were production-oriented while 737 were in non-manufacturing fields, the majority in social services.
Foreign direct investment came from 44 countries and regions . A breakdown of the major investors and the value of foreign capital involved is shown in Table 7.1.5.
| Approved contracts | Actual utilization | ||||
|---|---|---|---|---|---|
| Type | Number | Total value (US$ million) | % over total value of previous year | Total value (US$ million) | % over total value of previous year |
| 1995 | |||||
| Direct foreign investment: | 1,552 | 2,735.045 | “39.66 | 1,402.770 | “2.90 |
| Equity joint ventures | 982 | 1,334.989 | 915.050 | ||
| Contractual joint ventures | 150 | 1,092.423 | 402.310 | ||
| Solely foreign-owned enterprises | 420 | 307.633 | 85.370 | ||
| 2000 | |||||
| Direct foreign investment: | 1146 | 433.08389 | 138.4 | 2,458.491 | 10.2 |
| Equity joint ventures | 428 | 1,356.8021 | 148.4 | 445.54 | “16.7 |
| Contractual joint ventures | 144 | 494.4623 | “21.5 | 485.718 | “40.7 |
| Solely foreign-owned enterprises | 573 | 2,467.2382 | 330.3 | 1,527.219 | 61.6 |
| Source | No. of projects | Contract value(US$ million) |
|---|---|---|
| Hong Kong | 285 | 1,321.4963 |
| British Virgin Islands | 222 | 1,239.8205 |
| USA | 201 | 624.2528 |
| Republic of Korea | 90 | 73.1886 |
| Japan | 52 | 222.283 |
| Singapore | 48 | 198.8752 |
| Taiwan Province | 47 | 25.8224 |
| Cayman Islands | 37 | 62.1801 |
| UK | 26 | 50.3055 |
| Canada | 25 | 17.8205 |
| Germany | 21 | 110.0517 |
| Australia | 11 | 57.9381 |
| Western Samoa | 5 | 5.3035 |
| New Zealand | 5 | 0.8608 |
| Macao | 4 | 4.7356 |
| Thailand | 4 | 3.2805 |
| Italy | 4 | 2.0073 |
| Finland | 4 | 34.6124 |
| Malaysia | 3 | 0.4702 |
| Switzerland | 3 | 5.15 |
| Spain | 2 | 3.1305 |
| Russian Federation | 2 | 1.192 |
| Cuba | 2 | 2.2628 |
| Panama | 2 | 0.3000 |
By the end of 2000, 5082 foreign-invested enterprises (FIEs) had begun operation, employing a total of 454,000 people. The industrial output value by the operating FIEs in 2000 was RMB116.1 billion, an increase of 38.5 per cent on 1999, while total sales revenue reached RMB183.1 billion, an increase of 35.5 per cent. The total profit reported for the year 2000 was RMB5.44 billion, 3.7 times that of 1999, and the tax paid by the FIEs was RMB11.4 billion, up by 21.5 per cent.
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