Utilization of foreign capital

The city approved 64 foreign direct investment projects in 2000, with a total contracted investment of US$197.83 million, a drop of 53.4 per cent compared with 1999. A little over half of the investment dollars went into equity joint ventures (see Table 7.33.4). Nearly all of the projects were production- related .

Table 7.33.4: Utilization of foreign capital, Qinhuangdao City, 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:	138	299.49	115.32	97.24
Equity joint ventures	103	235.37
Contractual joint ventures	8	34.15
Solely foreign-owned enterprises	27	29.97
2000
Direct foreign investment:	64	197.83	-53.4	115.14	-12.9
Equity joint ventures	35	100.09
Contractual joint ventures	9	63.06
Solely foreign-owned enterprises	20	45.75

Foreign direct investment came from 44 countries and regions . Key sources of investment are provided in Table 7.33.5.

Table 7.33.5: Key sources of FDI, Qinhuangdao City

Source	No. of projects	Contract value (US$ million)
Hong Kong	9	7, 923
Singapore	4 3,	595
Republic of Korea	19	3, 285
USA	10 2,	108
Bahamas	1	2, 000
Brazil	1	700
France	2	555
Taiwan Province	2	301
Thailand	3	83
Cambodia	1	145

By the end of 2000, 244 FIEs were in operation. Their total output amounted to RMB6.493 billion, while sales revenue reached RMB6.744 billion. Foreign exchange income generated from exports by the operating FIEs was US$174.76 million, accounting for 74.7 per cent of the city's total export value and up by 7.72 per cent on 1999.