The total contract value of foreign direct investment in Hebei province in 2000 dropped by 20.4 per cent. 501 FDI contracts were approved, 83 per cent of which were manufacturing projects while the remaining 12 per cent were non-manufacturing projects (see Table 7.3.4).
Approved contracts | Actual utilization | ||||
---|---|---|---|---|---|
Mode | Number | Total value (US$ million) | % over previous year's total value | Total value (US$ million) | % over previous year's total value |
1995 | |||||
Direct foreign investment: | 1,260 | 2,250.72 | 96.37 | 541.75 | 6.33 |
Equity joint ventures | 992 | 1,687,.99 | |||
Contractual joint ventures | 83 | 274.77 | |||
Solely foreign-owned enterprises | 188 | 287.96 | |||
2000 | |||||
Direct foreign investment: | 501 | 724.45 | -20.4 | 1,023.76 | -29.0 |
Equity joint ventures | 317 | 373.07 | -12.3 | 702.7 | -37 |
Contractual joint ventures | 53 | 167.68 | -6.8 | 115.87 | -30.4 |
Solely foreign-owned | 131 | 183.70 | -39.7 | 205.19 | 27.0 |
Foreign direct investment came from 53 countries and regions . Major sources of FDI are listed in Table 7.3.5.
Source | No. of projects | Contract value (US$ million) |
---|---|---|
British Virgin Islands | 9 | 543.81 |
Hong Kong | 55 | 254.48 |
Japan | 41 | 74.02 |
USA | 81 | 69.79 |
Singapore | 15 | 62.48 |
Republic of Korea | 62 | 41.96 |
Canada | 16 | 35.76 |
Taiwan Province | 47 | 31.67 |
Bahamas | 1 | 20 |
Italy | 8 | 10.54 |
The majority (399) of these projects were in the manufacturing sector, with others in social services (23), agriculture, forestry, animal husbandry and fisheries (19) and construction (12).
By the end of 2000, a total of 9,749 foreign-invested projects had been approved and 1,599 foreign-invested enterprises were in operation, 24 more than in the previous year. The total output value by FIEs in 2000 reached RMB37.08 billion, an increase of 21.9 per cent on 1999. Total sales revenue was RMB36.46 billion, up by 32.3 per cent and profits amounted to RMB 1.47 billion, an increase of 540 per cent. The FIEs contributed RMB2.29 billion in tax revenue, up by 46.2 per cent. The export value of the operating FIEs was US$1 billion, up by 26.5 per cent, and accounted for 27.31 per cent of the total export value of Hebei Province.