Utilization of foreign capital
Sichuan approved 293 FDI contracts in 2000, with the contracted investment totalling US$604.82 million, an increase of 2 per cent on 1999. FDI in equity joint ventures dropped by 2 per cent while investment in the form of contractual joint ventures and solely foreign-owned enterprises increased by 21 per cent and 112 per cent respectively (see Table 7.23.4).
| Approved contracts | Actual utilization | ||||
|---|---|---|---|---|---|
| Mode | Number | Total value (US$ 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: | 826 | 1,206.82 | -19.71 | 539.40 | 128.55 |
| Equity joint ventures | 519 | 744.97 | 383.91 | ||
| Contractual joint ventures | 53 | 128.09 | 74.58 | ||
| Solely foreign-owned enterprises | 254 | 333.76 | 80.91 | ||
| 2000 | |||||
| Direct foreign investment: | 293 | 604.84 | 2.0 | 436.94 | 28.1 |
| Equity joint ventures | 156 | 265.03 | -2.0 | 290.46 | 56.3 |
| Contractual joint ventures | 25 | 103.89 | 21.0 | 27.19 | -44.8 |
| Solely foreign-owned enterprises | 112 | 235.92 | 112.0 | 119.29 | 12.6 |
The FDI was distributed in a wide range of industries, such as manufacturing (60.79 per cent), real estate (11.77 per cent), services (10.7 per cent), power, gas and water supply (5.01 per cent), and the construction industry (3.53 per cent). Among the 293 FDI projects approved in 2000, 209 were production- related purposes with the remaining 84 for other projects.
Foreign direct investment mainly came from 51 countries and regions in 2000. The main sources of FDI are provided in Table 7.23.5.
| Sources of FDI | No. of projects | Contract value (US$ million) |
|---|---|---|
| USA | 39 | 111.45 |
| British Virgin Islands | 17 | 89.00 |
| Hong Kong | 110 | 88.63 |
| ingapore | 14 | 33.53 |
| Japan | 11 | 21.93 |
| Taiwan Province | 46 | 13.84 |
| UK | 5 | 9.63 |
| Norway | 4 | 9.8 |
| France | 4 | 6.48 |
| Germany | 6 | 5.13 |
| Bermuda | 1 | 5 |
By the end of 2000, 5,481 foreign investors had invested in Sichuan, with the accumulated contractual and utilised foreign investment reaching US$14.0 billion and US$7.3 billion respectively. The total value of import and export of the operating FIEs in 2000 was US$615.24 million, up by 43.06 per cent, of which the export value reached US$245.17 million, up by 54.9 per cent.
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