In 2000, Guangzhou recorded an increase of 8.1 per cent as a result of its efforts to attract foreign direct investment. A total of 647 contracts were approved in the year, a total investment of US$1.53 billion. FDI in the form of wholly foreign-owned enterprises outnumbered both equity and contractual joint ventures (see Table 7.41.4).
Approved contracts | Actual utilization | ||||
---|---|---|---|---|---|
Mode | Number | Total value (US$ 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: | 1.774 | 6,731.01 | -1.85 | 2,144.44 | 18.21 |
Equity joint ventures | 439 | 1,408.26 | 498.68 | ||
Contractual joint ventures | 852 | 4,390.22 | 1,386.09 | ||
Solely foreign-owned enterprises | 483 | 932.22 | 259.67 | ||
2000 | |||||
Direct foreign investment: | 647 | 1,527.59 | 8.1 | 2,989.23 | 0.1 |
Equity joint ventures | 135 | 284.92 | 5.1 | 470.85 | -61.2 |
Contractual joint ventures | 124 | 565.38 | 4.3 | 1,779.77 | 48.2 |
Solely foreign-owned enterprises | 388 | 677.29 | 12.8 | 738.61 | 29.2 |
Foreign investment came from 46 countries and regions which can be broadly divided into three categories: a) from overseas Chinese in Hong Kong, Taiwan Province, Macau and Singapore; b) international capital from developed countries such as Japan, the USA and Western Europe; and c) international floating capital from the British Virgin Islands. Detailed information on the key sources of investment is provided in Table 7.41.5.
Source | No. of projects | Contract value (US$ million) | Actual utilization (US$ million) |
---|---|---|---|
Hong Kong | 359 | 637.87 | 1,957.47 |
British Virgin Islands | 67 | 371.15 | 393.90 |
Taiwan Province | 95 | 92.75 | 72.98 |
Japan | 7 | 81.33 | 63.00 |
Singapore | 18 | 77.19 | 104.63 |
USA | 45 | 66.69 | 135.87 |
Cayman Islands | 4 | 39.27 | 5.84 |
Netherlands | 4 | 30.40 | 11.24 |
Samoa | 6 | 23.53 | 6.12 |
Macao | 8 | 16.45 | 63.40 |
Belize | 1 | 10.00 | 2.75 |
By the end of 2000, the accumulated number of registered enterprises with foreign investment had reached 12,608 in Guangzhou. 5,541 of these had already gone into production. Foreign investment actually utilised amounted to US$20.669 billion. Total export value of enterprises with foreign investment reached US$6.01 billion, accounting for 65.44 per cent of the city's total export value.