East China's Jiangsu Province has retained its position as the country's leading user of overseas money, as growing international investment flows into the Yangtze River delta area.

From January to October in 2003, Jiangsu ratified 5,881 new overseas-funded projects, up 25.7 per cent year-on-year, using US$24.5 billion of contractual overseas investment, up 51.5 per cent, according to the provincial foreign economy and trade department.

The projects include 1,259 costing more than US$10 million each and 79 costing more than US$30 million each, and 27 each at more than US$100 million.

The previously established 1,359 overseas-funded enterprises added a combined US$3.2 billion to their contractual investment during the period.

The influx of overseas money mainly went to high-tech, high- value-added projects, especially those in information technology, new materials, bio-pharmaceutical projects and the development of environment-friendly and energy-saving items.

Basic construction, warehouse, logistics and consulting services, as well as research and development facilities have become new magnets for overseas investors.

Close

Today's Top News		Top Business News
+Beijing censures passing of referendum law ( 2003-11-28) +Pesticide ban to hit farmers ( 2003-11-28) +Boat cut plan to protect fish stock ( 2003-11-28) +Experts call for unified tax rates ( 2003-11-28) +Plan to address climate change ( 2003-11-28)		+Jiangsu continues to lead in use of overseas money ( 2003-11-29) +Chemical anti-dumping charge dropped ( 2003-11-29) +Carmakers say venture to make profit soon ( 2003-11-29) +Bayer bets on China growth ( 2003-11-29) +Experts call for unified tax rates ( 2003-11-28)