Utilization of foreign capital

Hubei province approved 331 foreign direct investment projects with a total contract value of US$1.065 billion in 2000, an increase of nearly 30 per cent over 1999. FDI for solely foreign-owned projects had declined by 43.9 per cent in terms of contract value (see Table 7.17.4).

Table 7.17.4: Utilization of foreign capital, Hubei 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:	881	1,088.47
Equity joint ventures	583
Contractual joint ventures	45
Solely foreign-owned enterprises	253
2000
Direct foreign investment:	331	1,065.83	29.70	943.68	3.15
Equity joint ventures	156	279.36	14.89	598.79	1.23
Contractual joint ventures	16	487.11	97.15	27.8	-59.23
Solely foreign-owned enterprises	158	299.36	-43.90	317.00	24.59

Among the FDI projects approved in 2000, 246 were production-orientated and 88 non-production related . FDI originated from 36 countries and regions . The key sources of FDI are listed in Table 7.17.5.

Table 7.17.5: Key sources of FDI, Hubei Province

Source	Number of projects	Actually utilised (US$ million)
France	2	360.23
Hong Kong	126	252.12
USA	30	64.34
UK	18	53.35
Singapore	9	47.43
Germany	9	32.00
Japan	15	31.01
Taiwan Province	56	30.44
The Netherlands	2	28.00
Thailand	4	17.06
Macao	10	7.59

The export value of FIEs in 2000 was US$430 million, up by 36.9 per cent, accounting for 22.2 per cent of the province's total export value. The processing trade was the driving force behind both import and export.