Utilization of foreign capital

The total contract value of foreign direct investment in Hebei province in 2000 dropped by 20.4 per cent. 501 FDI contracts were approved, 83 per cent of which were manufacturing projects while the remaining 12 per cent were non-manufacturing projects (see Table 7.3.4).

Table 7.3.4: Utilization of foreign capital in 1995 and 2000, Hebei Province

	Approved contracts			Actual utilization
Mode	Number	Total value (US$ million)	% over previous year's total value	Total value (US$ million)	% over previous year's total value
1995
Direct foreign investment:	1,260	2,250.72	96.37	541.75	6.33
Equity joint ventures	992	1,687,.99
Contractual joint ventures	83	274.77
Solely foreign-owned enterprises	188	287.96
2000
Direct foreign investment:	501	724.45	-20.4	1,023.76	-29.0
Equity joint ventures	317	373.07	-12.3	702.7	-37
Contractual joint ventures	53	167.68	-6.8	115.87	-30.4
Solely foreign-owned enterprises	131	183.70	-39.7	205.19	27.0

Foreign direct investment came from 53 countries and regions . Major sources of FDI are listed in Table 7.3.5.

Table 7.3.5: Major sources of FDI, Hebei Province

Source	No. of projects	Contract value (US$ million)
British Virgin Islands	9	543.81
Hong Kong	55	254.48
Japan	41	74.02
USA	81	69.79
Singapore	15	62.48
Republic of Korea	62	41.96
Canada	16	35.76
Taiwan Province	47	31.67
Bahamas	1	20
Italy	8	10.54

The majority (399) of these projects were in the manufacturing sector, with others in social services (23), agriculture, forestry, animal husbandry and fisheries (19) and construction (12).

By the end of 2000, a total of 9,749 foreign-invested projects had been approved and 1,599 foreign-invested enterprises were in operation, 24 more than in the previous year. The total output value by FIEs in 2000 reached RMB37.08 billion, an increase of 21.9 per cent on 1999. Total sales revenue was RMB36.46 billion, up by 32.3 per cent and profits amounted to RMB 1.47 billion, an increase of 540 per cent. The FIEs contributed RMB2.29 billion in tax revenue, up by 46.2 per cent. The export value of the operating FIEs was US$1 billion, up by 26.5 per cent, and accounted for 27.31 per cent of the total export value of Hebei Province.