Utilization of foreign capital

Foreign direct investment in the province experienced negative growth in 2000. 260 FDI projects were approved, with the total FDI contract value of US$812.83 million, less than in 1995 (see Table 7.8.4).

Table 7.8.4: Utilization of foreign capital, Heilongjiang Province, 1995 and 2000

	Approved contracts			Actual utilization
Mode	Number	Total value (US$ million) year's total value	% change over previous year	Total value (US$ million) year's total value	% change over previous year
1995
Direct foreign investment:	844	987.99	37.2	448.68	32.1
Equity joint ventures	513	557.76		327.39
Contractual joint ventures	49	208.06		31.76
Solely foreign-owned enterprises	282	221.17		89.53
2000
Direct foreign investment:	260	812.83	-12.8	830.85	1.5
Equity joint ventures	139	138.23	-64.6	208.32	-40.7
Contractual joint ventures	16	64.12	-32.1	19.73	-49.2
Solely foreign-owned enterprises	105	100.48	-23.5	92.80	-17.8

Of the 260 FDI projects, 187 projects were production- oriented while 73 were in non-production activities. Among these, 11 projects were in agriculture, forestry, animal husbandry, fishery and water conservation and the FDI contract value involved was US$10.61 million; A total of 187 projects were in the manufacturing industry with a contract value of US$149.86 million. Key sources of foreign direct investment are shown in Table 7.8.5.

Table 7.8.5: Key sources of foreign direct investment, Heilongjiang Province

Source	No. of projects	Contract value (million US$)
Hong Kong	53	165.77
Republic of Korea	73	24.94
USA	36	22.75
Japan	23	18.29
Taiwan Province	24	16.68