Central China's Hubei Province has set its goal for attracting
overseas investment at 10 billion U.S. dollars in the 10th Five-Year-Plan
period (2001-2005).
In an interview
with Xinhua, Deng Daokun, deputy governor of Hubei, said the
key tasks in this regard for the forthcoming five years would
be to attract more multinationals to develop high-tech industries,
export-oriented businesses and upgrade traditional industries
in Hubei, and to expand the opening-up of the province' s
infrastructure sector and service trade.
It is expected
that the inflow of overseas investment into this central Chinese
province will hit 2 billion U.S. dollars this year, including
1.55 billion U.S. dollars in foreign direct investment and
450 million U.S. dollars worth of loans from overseas.
Hubei, known as
the "thoroughfare of nine provinces" -- with the
Yangtze River flowing from west to east and the Beijing- Guangzhou
Railway running from north to south -- is located right in
the middle of the country's main water artery. It is also
a well-known area for fish and rice.
The province has
had an inflow of overseas investment totaling 6.429 billion
U.S. dollars since China introduced a reform and opening up
policy in 1978.
(People's Daily
05/06/2001)
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