Utilization of foreign capital

Wenzhou reported an increase of 44.4 per cent in the inflow of FDI in 2000, with the total contracted investment coming to US$67.06 million. A total of 84 FDI contracts were approved, up 20 per cent on 1999. See Table 7.39.4.

Table 7.39.4: Utilization of foreign capital, Wenzhou City, 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:	159	114.49	-51.72	73.52	20.17
Equity joint ventures	122	77.52		57.45
Contractual joint ventures	13	17.15		1.60
Solely foreign-owned enterprises	24	19.82		14.47
2000
Direct foreign investment:	84	67.06	44.4	72.02	35.89
Equity joint ventures	60	38.85	35.3	25.91	12.2
Contractual joint ventures	2	2.55	264	29.44	77.8
Solely foreign-owned enterprises	22	25.66	50.7	16.67	64.4

Foreign investment came from 29 countries and regions . The main sources of FDI are shown in Table 7.39.5.

Table 7.39.5: Key sources of FDI, Wenzhou City, 2000

Source	No. of projects	Contract value (US$ million)
Taiwan Province	15	6.02
France	13	20.44
USA	11	3.8
Hong Kong	9	14.09
Italy	9	2.1
Brazil	4	1.24
Netherlands	3	4.16
Romania	2	1.18

Up to the end of 2000, a total number of 1475 foreign- funded enterprises had begun operation with a total output value of US$3.10006 billion. Sales income reached US$8.935 billion, an increase of 42.6 per cent compared with 1999 and total profits amounted to US$382 million.