Utilization of foreign capital

A total of 259 FDI contracts were approved by Xiamen in 2000, with a total contracted investment of US$1.004 billion, a drop of 21.96 per cent against 1999. This drop was attributed to the sharp decline in the FDI in equity and contractual joint ventures . FDI in solely foreign- owned enterprises , in contrast, increased by 21.66 per cent (see Table 7.47.4). See Table 7.47.5 for a list of key sources of foreign capital.

Table 7.47.4: Utilization of foreign capital, Xiamen 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:	505	2,062	10.56	1322	6.44
Equity joint ventures	130
Contractual joint ventures	29
Solely foreign-owned enterprises	346
2000
Direct foreign investment:	259	1,004.00	-21.96	10.3150	-23.13
Equity joint ventures	52	143.63	-70.02	3.6956	-10.69
Contractual joint ventures	5	10.09	-90.70	4595	-85.14
Solely foreign-owned enterprises	202	850.28	21.66	6.1599	0.46

Table 7.47.5: Key sources of FDI, Xiamen City

Source	No. of projects	Total value (US$ million)
Hong Kong	45	367.02
Taiwan Province	105	148.01
Singapore	16	32.08
Philippines	7	6.60
Japan	11	54.01
Malaysia	6	26.07
Macao	3	13.83
Republic of Korea	6	8.52
Indonesia	1	2.59
UK	11	146.98
Total	211	805.71