There was a moderate increase of 8.1 per cent in the value of foreign direct investment in Henan province in 2000. 237 FDI projects were approved in that year, with a total contract value of US$699.21 million. The increase in the FDI contract value was attributed to the increase in equity joint ventures, which offset the negative growth in both contractual joint ventures and solely foreign owned enterprises (see Table 7.16.4).
Approved contracts | Actual utilization | ||||
---|---|---|---|---|---|
Mode | Number | Total value (US$ 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: | 805 | 915.67 | 16.43 | 476.22 | 23.47 |
Equity joint ventures | 60 | 519.12 | |||
Contractual joint ventures | 61 | 279.89 | |||
Solely foreign-owned enterprises | 144 | 116.66 | |||
2000 | |||||
Direct foreign investment: | 237 | 699.21 | 8.1 | 564.03 | 62 |
Equity joint ventures | 139 | 457.57 | 22.8 | 412.18 | 67.7 |
Contractual joint ventures | 26 | 149.68 | -11.6 | 81.85 | -42.8 |
Solely foreign-owned enterprises | 72 | 91.78 | -12.4 | 70.00 | -47.2 |
The FDI projects approved in 2000 covered more than 40 different sectors. There were 197 production projects with a total contract value of US$570.09 million, accounting for 81.53 per cent of the total. The remaining 40 projects were service- related . The FDI came from 37 countries and regions ; the key sources of the province's FDI are shown in Table 7.16.5.
Source | Number of projects | Actual utilization (US$ million) |
---|---|---|
Hong Kong | 89 | 371.35 |
UK | 6 | 114.55 |
Singapore | 10 | 30.45 |
Thailand | 5 | 24.85 |
USA | 41 | 18.76 |
British Virgin Islands | 7 | 15.85 |
A total of 6,413 foreign-invested enterprises had been approved by the end of 2000 and more than 2,000 of these had begun production, employing a total work- force of over 300,000. Exports from foreign-invested enterprises in 2000 came to US$308.36 million, an increase of 29.8 per cent on 1999 and accounting for 20.65 per cent of the province's total export value.