Utilization of foreign capital


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).

Table 7.10.4: Utilization of foreign capital, Shanghai, 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:

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.

Table 7.10.5: Key investment sources, Shanghai

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.




Doing Business with China
Doing Business with China
ISBN: 1905050089
EAN: 2147483647
Year: 2003
Pages: 648
Authors: Lord Brittan

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