In 2000, Shanghai approved 1814 FDI projects, involving a total contract value of nearly US$6.4 billion. The number of solely foreign-owned ventures accounted for 63 per cent of the projects approved in the year. The amount of capital that went into enterprises had more than doubled that of 1999. In contrast, the total investment in equity joint ventures fell by 8.27 per cent in terms of contract value (see Table 7.10.4).
Approved contracts | Actual utilization | ||||
---|---|---|---|---|---|
Mode | Number | Total value (US$ 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: | 2,845 | 10,539.64 | 5.13 | 3,249.94 | 3.61 |
Equity joint ventures | 1,373 | 4,636.39 | 1,753.87 | ||
Contractual joint ventures | 664 | 2,072.3 | 1,088.03 | ||
Solely foreign-owned enterprises | 799 | 3,725.98 | 363.44 | ||
2000 | |||||
Direct foreign investment: | 1,814 | 6,389.72 | 55.70 | 3,260.29 | 37 |
Equity joint ventures | 441 | 1,385.58 | -8.27 | 1,294.24 | -14.7 |
Contractual joint ventures | 226 | 585.75 | 21.03 | 298.91 | -14.2 |
Solely foreign-owned enterprises | 1,146 | 4,414.22 | 128.85 | 1,566.64 | 38.4 |
Among the FDI projects approved in 2000, 944 projects were production- related while 870 projects were service orientated. Direct foreign investment came from 57 countries and regions. The ten countries and regions with the highest investment value are shown in Table 7.10.5.
Sources of FDI | No. of projects | Contract value (US$ million) |
---|---|---|
Cayman Islands | 61 | 2,249 |
Hong Kong | 419 | 944 |
Japan | 237 | 705 |
USA | 256 | 578 |
British Virgin Islands | 152 | 544 |
Germany | 47 | 276 |
Singapore | 97 | 213 |
Taiwan | 225 | 165 |
Netherlands | 28 | 115 |
UK | 32 | 100 |
By the end of 2000, over 15,930 foreign-invested enterprises were in operation. The total sales revenue of these enterprises reached RMB397.790 billion in 2000, an increase of 47.3 per cent over the previous year. Total profit by those FIEs reached RMB21.779 billion, up by 166.9 per cent, creating a total tax revenue of RMB15.893 billion, an increase of 28.1 per cent. The export revenue created by FIEs totalled US$14.261 million in 2000, up by 37.8 per cent over 1999.