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Hubei sees stable rise in foreign investment in first eight months

Source: hubei.gov.cn 10/09/2019 17:10:29

In the first eight months, 302 foreign investment projects were newly-approved in Hubei Province, a year-on-year increase of 5.59 percent. The actual use of foreign capital amounted to 8.508 billion U.S. dollars, up 6.34 percent, the Department of Commerce of Hubei Province said on September 30, 2019.

Foreign-funded projects witnessed vigorous growth. And 37 enterprises’ actually-used foreign investment exceeded 10 million U.S dollars, 7 of which surpassed 50 million U.S dollars.

Cities in Hubei Province obtained excellent scores, among which Wuhan, Xianning, Xiangyang, Jingzhou and Xiaogan exceeded 100 million U.S dollars in contractual foreign investment, amounting to 4.663 billion U.S. dollars, 3.022 billion U.S. dollars, 365 million U.S. dollars, 283 million U.S. dollars and 201 million U.S. dollars, respectively.

Tertiary industry maintained steady with an upward momentum. In the January-August period, the actual use of foreign capital in the tertiary industry reached 4.09 billion U.S. dollars, surging by 28.93 percent. And the actual use of foreign investment in the leasing and business service industry was 853 million U.S. dollars, soaring by 5.48 folds, and continued to maintain rapid growth. The financial industry saw 31 newly-approved foreign investment projects, an increase of 4.17 folds.

In the January-August period, Hubei’s top three sources of foreign capital were Hong Kong, Singapore and Japan. The actual investment of U.S. and South Korea stood at 241 million U.S. dollars and 264 million U.S. dollars with robust growth, up 1.51 folds and 1.25 folds, respectively.(hubei.gov.cn by Zhang Yawei)

Related: Hubei's foreign trade up 12 pct in first eight months