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Hunan Foreign Capital Utilization Increased Substantially in the First Quarter
2008/4/18 0:00:00 Source:MOFCOM Guangzhou Office

In the first quarter this year, Hunan actual foreign capital utilization increased by 17.27% year on year. Among them, Changsha, Zhuzhou and Xiangtan are most attractive to foreign capital with actual foreign capital utilization accounting for 73.09% of the total provincial amount. This ratio has risen by 6.7% year-on-year; foreign capital utilized by industrial projects also realized substantial increase. The actual foreign capital utilized by industrial projects totaled USD589.81m, up by 53.22% year-on-year and accounting for 66.23% of actual foreign capital utilized provincially; the progress of capital in position for strategic investment projects and major foreign-invested projects went smoothly. For instance, Valin Pipeline project had USD40m investment in position in Mar., accounting for 1/3 of the contractual foreign capital; Lianyuan China Resources Power project had USD25.3m in position in Mar., accounting for 84.90% of contractual foreign capital; Huaihua Xiao Mining project had USD26m capital in position accumulatively, accounting for 87.54% of the contractual foreign capital.
The actual investment in Hunan from Asian countries and areas accounts for 75.43% of total foreign capital absorbed in the province. The actual investment from U.S. and Canada into Hunan increased remarkably, achieving 5.92 times and 3.09 times respectively of those in last year. 

 

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