Utilization of foreign capital
In 2000, the province approved 867 FDI projects, involving a total contract value of US$5.17 billion, an increase of 16.5 per cent on the previous year (see Table 7.6.4). The contract value for contractual joint ventures more than doubled since 1999.
| Approved contracts | Actual utilization | ||||
|---|---|---|---|---|---|
| Mode | Number | Total value (US$ 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: | 2,406 | 3,970.00 | -11.55 | 1,430.00 | 0.03 |
| Equity joint ventures | 1,700 | 2,410.00 | 858.00 | ||
| Contractual joint ventures | 249 | 430.00 | 185.00 | ||
| Solely foreign-owned enterprises | 457 | 1,130.00 | 387.00 | 51 | |
| 2000 | |||||
| Direct foreign investment: | 867 | 5,170 | 16.5 | 2,552 | 23.64 |
| Equity joint ventures | 967 | 2,390 | 4.0 | 1,429 | 11.46 |
| Contractual joint ventures | 160 | 1,370 | 114.5 | 229 | 6.02 |
| Solely foreign-owned enterprises | 740 | 1,370 | -4.5 | 761 | 57.23 |
This FDI came from 19 countries and regions . Hong Kong and Macao topped all other sources of investment by investing US$1.354 billion in 287 projects. The second largest investor was the USA, investing nearly US$1 billion in 293 projects (see Table 7.6.5).
| Source | No. of projects | Contract value (US$ million) |
|---|---|---|
| Hong Kong and Macao | 287 | 1,354 |
| USA | 293 | 939 |
| Japan | 279 | 636 |
| Republic of Korea | 567 | 577 |
| Taiwan Province | 145 | 297 |
| Canada | 51 | 90 |
| Australia | 33 | 82 |
| Singapore | 33 | 77 |
| Thailand | 10 | 38 |
| Netherlands | 5 | 32 |
| Germany | 17 | 25 |
The FDIs were mainly concentrated in secondary and tertiary industries, which attracted US$2.782 billion (53.81 per cent of the total FDI for that year) and US$2.14 billion (41.39 per cent) respectively. 4.80 per cent of the FDI(US$248 million) went to primary industry.
By the end of 2000, 8310 FDI projects had started operation. The total production of these projects was valued at RMB112.8 billion, representing 25.3 per cent of the provincial GDP and a 27.78 per cent increase on 1999. The foreign exchange income generated from the exports by these operations reached US$6.24 billion in 2000, or 57.5 per cent of the total provincial export value and an increase of 43.09 per cent over 1999. Taxes from FDI companies amounted to RMB9.64 billion, an increase of 67.07 per cent on 1999 and 16.2 per cent of the total provincial tax revenue in 2000.
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