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Overseas investment up in Beijing economic zone
(Xinhua)
Updated: 2004-04-12 11:14

The Beijing Economic and Technological Development Zone saw its overseas investment increase in the first quarter from the same period last year, said officials of the zone authorities.

Statistics show that the total investment by newly approved enterprises in the zone hit US$736 million during the first three months, up nearly 14 times from the same period last year. Of the total, overseas investment in contracts accounted for US$673 million. The actual use of overseas investment reached US$7.7 million in the period, up 92.53 percent, according to the statistics.

Beijing's sole state-level zone of the kind saw 43 new enterprises starting production in the period and approved four investment programs each having an investment over US$10 million.

In the first quarter, the zone's gross output was worth 2.19 billion yuan (US$264 million), up 39 percent from a year earlier.

Founded in the southeastern suburb of Beijing in 1992, the zone attracted a total of 1,394 enterprises by the end of March, with a cumulative investment of about US$6.3 billion, including 350 Sino-overseas joint ventures and overseas-funded enterprises with their investment adding up to US$4.3 billion.

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