As one of the most dynamic local economies in China, Jiangsu province has maintained its attraction to foreign investors. In 2000, the province approved 2,645 FDI projects with a total contract value of US$10.6 billion, an increase of 52.3 per cent on 1999 (see Table 7.9.4).
Approved contracts | Actual utilization | ||||
---|---|---|---|---|---|
Mode | Number | Total value (US$ 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: | 4,086 | 12,411.29 | 55.08 | 4844.57 | 15.02 |
Equity joint ventures | 2,907 | 6,115.10 | 3,191.18 | ||
Contractual joint ventures | 272 | 713.3 | 363.14 | ||
Solely foreign-owned enterprises | 907 | 5,582.89 | 1,290.25 | ||
2000 | |||||
Direct foreign investment: | 2,645 | 10,613.01 | 52.3 | 6,266.69 | 0.3 |
Equity joint ventures | 1,115 | 3,437.34 | 2,268.21 | ||
Contractual joint ventures | 117 | 569.66 | 343.46 | ||
Solely foreign-owned enterprises | 1,413 | 6,605.71 | 3,810.14 |
Among the FDI projects approved in 2000, 2,329 were production-oriented while 316 were for service- oriented projects. Distribution of the FDI projects by sector is shown in Table 7.9.5.
Sector | Number of projects |
---|---|
Garment | 316 |
Electronics and telecommunications | 279 |
Textile | 163 |
Metallic products | 163 |
Chemical raw materials & chemical products | 154 |
Electronic machinery & equipment | 133 |
General machinery | 118 |
Special-purpose equipment | 112 |
Plastic products | 103 |
Non-metallic mineral products 96 Transportation equipment | 96 |
Cultural, education & sports products 88 Food processing | 85 |
Property development | 56 |
Computer application | 50 |
Other | 633 |
Hong Kong and Taiwan were the key sources of FDI in the province in 2000. Hong Kong was first both in terms of the number of projects and total contract value. A list of FDI origins is provided in Table 7.9.6.
Source | Number of projects | Contract value (US$ million) |
---|---|---|
Hong Kong | 589 | 2,192 |
Taiwan | 588 | 1,014 |
USA | 343 | 910 |
Japan | 259 | 800 |
Republic of Korea | 151 | 237 |
Virgin Islands | 144 | 1,422 |
Singapore | 81 | 378 |
Germany | 49 | 1,346 |
Cayman Islands | 24 | 420 |
Samoa | 30 | 252 |
UK | 37 | 238 |
Italy | 17 | 228 |
By the end of 2000, there were over 18,000 foreign- invested enterprises in Jiangsu province, with a total investment of over US$75 billion.