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Zhejiang’s Use of Foreign Investment Sees Rapid Growth and High Quality
2017-07-21 10:45:59

On July 18, reporters learned from Zhejiang Provincial Department of Commerce that from January to June this year, Zhejiang registered and approved 1409 new foreign-funded enterprises, with a total investment of $23.81 billion, $15.68 billion of contract value, up 31.9% year on year, $10.03 billion in actual use, up 8.1% year on year. The goal made by the provincial government to use foreign investment has been completed by 62%.
Most of the newly-invested projects are valued over 10 million dollars in Zhejiang this year. Of all the projects introduced into Zhejiang in the first six months, 400 are over $10 million each, 123 more compared to the same period last year. The investment arrives at $22.61 billion in total, accounting for 95.0% of the total foreign investment, up 21.0% year on year; $13.85 billion is in terms of contract value, accounting for 88.4% of the total, up36.7% year on year. 34 more enterprises, ranging from such industries as biomedicine, new materials, new energy and logistics, have been introduced into Zhejiang with an investment of more than $100 million each, and the total investment is $10.44 billion.
Another highlight is the increase in the investment in the service sector and hi-tech industries. The actual use of foreign investment in the service sector from January to June this year is $6.62 billion, with a year on year increase of 17.2%, accounting for 66.0% of the total. In terms of hi-tech manufacturing industries, $690 million is used, a year on year increase of 52.0%. The use in hi- tech service industries is $1.46 billion, a year on year increase of 110.7%.  In addition, the service industries in relation to information, R&D and design, special technologies, and technical testing also see a significant growth.
Zhejiang has been steadily promoting the investment from Fortune Global 500 companies since the beginning of the year. In the first six months, 11 enterprises funded by t Fortune Global 500 companies have been approved, with a total investment of $370 million, including $140 million of contract value. Up till now, Zhejiang has approved 558 enterprises invested by 174 of Fortune Global 500 companies.

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