Utilization of foreign capital

A total of 295 FIE contracts were signed in 2000, down 12.7 per cent over 338 projects in 1999. The contracted foreign capital was US$954.79 million, up 2.2 per cent over US$934.26 million in 1999. Of all the FDI projects approved in 2000 were 80 equity joint ventures with a foreign capital of US$156.52 million, six contractual joint ventures with US$11.71 million and 209 solely foreign-owned enterprises with US$786.56 million. The foreign capital actually utilized in the whole year amounted to US$800.87 million, an increase of 9.65 per cent over US$730.36 million in 1999. 93.94 per cent of the projects were production- or export-orientated.

In 2000, an additional 125 foreign- funded enterprises went into production. By the end of 2000, 3087 foreign-invested enterprises were in operation, with an industrial output value of RMB53.25 billion, or 53.1 per cent of Fuzhou's total municipal industrial output value in the same period. The foreign exchange generated through export by these enterprises came to US$2.35038 billion, an increase of 24.49 per cent over 1999's US$1.84360 billion, or 86.94 per cent of the city's total export value.