Utilization of foreign capital

In 2000, the province 's use of foreign direct investment dropped by 11.96 per cent in contract value compared with 1999. Negative growth occurred in both equity and contractual joint ventures , while solely foreign- owned enterprises saw a slight increase of 5.98 per cent in total contract value (see Table 7.13.4).

Table 7.13.4: Utilization of foreign capital, Fujian Province, 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:	2,728	8,906.47	24.05	4,038.81
Equity joint ventures	858	1,735.84		1,248.72
Contractual joint ventures	147	1,001.47		540.73
Solely foreign-owned enterprises	1,723	6,141.16		2,249.36
2000
Direct foreign investment:	1,463	4,313.73	-11.96	3,803.86	-5.47
Equity joint ventures	281	512.42	-50.43	745.48	-25.11
Contractual joint ventures	27	99.71	-73.31	132.63	-68.51
Solely foreign-owned enterprises	1,155	3,701.60	5.98	2,923.65	11.99

Of the FDI projects approved in 2000, 1236 were production-orientated and 227 non-production.

At the beginning of 2000, 728 FIEs were in operation and by the end of the year an accumulative 15,887 had gone into production. FIEs played an important role in the local economy. The total industrial output value of the operating FIEs reached RMB153.865 billion in 2000, up 14.3 per cent over the previous year. Exports by FIEs totalled US$7.597 billion, up by 29.01 per cent over the previous year and accounting for 58.85 per cent of the total export value of the province.

Table 7.13.5: Key sources of foreign direct investment, Fujian Province

Source	Number of projects	Contract value (US$ million)
Hong Kong	602	2,125
Taiwan Province	213	321
British Virgin Islands	23	238
USA	79	210
The Philippines	60	176
Japan	72	169
UK	20	155
Singapore	58	102
Macao	28	49.58
Malaysia	14	46.43