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 .
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).
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.