Utilization of foreign capital


Yantai's total value of contracted FDI more than doubled in 2000 compared with 1999. A total of 371 contracts were approved in the year with total contracted investment being US$ 694.67 million (see Table 7.34.4). FDI in the form of solely foreign-owned enterprises more than doubled .

Table 7.34.4: Utilization of foreign capital, Yantai 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:

402

589.02

-38.19

532.08

-9.79

     Equity joint ventures

271

344.65

 

4,315.28

 

     Contractual joint ventures

21

47.67

 

10.13

 

     Solely foreign-owned enterprises

110

196.70

 

106.67

 

2000

Direct foreign investment:

371

694.67

113.7

   

     Equity joint ventures

178

324.00

66.5

   

     Contractual joint ventures

16

39.20

36.1

   

Solely foreign-owned enterprises

177

331.47

225.8

   

Of 371 FDI projects, 340 were production-orientated and 42 were non production- related . 14 were in agriculture and 340 in industry.

Foreign direct investment came from 27 countries and regions (see Table 7.34.5).

Table 7.34.5: Key sources of FDI, Yantai City

Source

No. of projects

Contract value(US$ million)

Hong Kong

69

240.55

USA

40

145.04

Republic of Korea

128

142.54

Japan

35

47.53

Taiwan Province

38

39.17

An additional 30 foreign-invested enterprises (FIEs) went into business during 2000. By the end of the year,1900 FIEs had been in operation in the city. In 2000, the total sales revenue amounted to RMB23.77 billion with profits totalling RMB1.168 billion, and a tax contribution of RMB940 million. The FIEs also had a total export value of US$1.36 billion in 2000.




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

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