Doing Business with China
The total of contracted foreign investment in 2000 went up by 54.12 per cent over 1999 to US$2,662.21 million. This amount was spread over 1128 investment projects (see Table 7.35.4). Solely foreign-owned enterprises outnumbered the other two forms of FDI in terms of both the number of FDI contracts and contracted value of investment.
| Approved contracts | Actual utilization | ||||
|---|---|---|---|---|---|
| Mode | Number | Total value (US$ 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: | 718 | 1,467.34 | 22 | 593.08 | 13 |
| Equity joint ventures | 260 | 399.98 | 182.79 | ||
| Contractual joint ventures | 45 | 147.74 | 36.83 | ||
| Solely foreign-owned enterprises | 412 | 798.42 | 367.24 | ||
| 2000 | |||||
| Direct foreign investment: | 1,128 | 2,662.21 | 54.12 | 1,307.97 | 42.57 |
| Equity joint ventures | 303 | 698.89 | 26.42 | 451.34 | 64.78 |
| Contractual joint ventures | 57 | 268.35 | 38.59 | 74.52 | 28.26 |
| Solely foreign-owned enterprises | 767 | 1,693.70 | 72.64 | 782.11 | 33.60 |
In 2000, foreign investment came from 54 countries and regions . The top ten investors are shown in Table 7.35.5:
| Source | No. of projects | Contract value (US$ million) |
|---|---|---|
| Republic of Korea | 560 | 664.78 |
| Hong Kong | 132 | 581.57 |
| USA | 82 | 411.75 |
| Taiwan Province | 92 | 201.05 |
| Canada | 23 | 164.3 |
| Japan | 106 | 153.6 |
| British Virgin Islands | 14 | 147.16 |
| Mauritius | 3 | 93.79 |
| Germany | 19 | 72.16 |
| Spain | 1 | 25.3 |
A total of 3328 foreign investment enterprises were put into operation in the city, employing a total of 330,000 people. The export value of these enterprises was US$4.438 billion in 2000.