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Central China's Henan Province experienced fast growth in foreign investment in the first four months of 2003, according to figures from the Henan Foreign Trade Department.
Statistics from the provincial customs department show that Henan ratified 71 new foreign-funded enterprises in the first four months of this year and saw an inflow of over 338 million US dollars of foreign funds, increasing 119.4 percent compared with the same period last year.
Foreign direct investment from January to April this year amounted to 107.25 million US dollars, increasing 110 percent compared with the same period last year.
Foreign investment in Henan is mainly in infrastructure and basic industries including expressways, bridges, water supply, heating and environmental protection. Sources of foreign investment in Henan have grown to more than 90 countries and regions worldwide.
In the first four month of this year, about 803 enterprises in Henan had export business, of which 268 are state-owned and 535 non-state firms. The import volume of foreign enterprises reached 149.12 million US dollars, increasing 41.8 percent compared with the same period last year.
However, because of SARS, foreign investment growth in Henan, though very fast, has not met targets. Therefore, the province has decided to adjust its policy to attract more foreign funds, including new policies favoring foreign investment and encouraging foreign investment in the service industries, public facilities, and state-owned enterprises.
(Xinhua News Agency May 31, 2003)
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