Jiangsu Province, an economic engine in east China, had used US$101.8 billion of foreign investment in real terms by the end of 2004, according to the provincial statistics bureau.

In 2004 alone, its service sector registered about US$5.2 billion of foreign capital, with the establishment of 877 businesses.

Meanwhile, the province approved the establishment of 6,188 foreign-funded businesses in the manufacturing industry, involving contractual investment of about US$33.5 billion.

Figures from the bureau indicate that 215 foreign-funded businesses set up in the past two years involve an investment of US$30 million each and 58 absorb more than US$100 million each.

Foreign investors also poured large amount of funds into 899 private businesses and another 500 in software-related industries. Out of the 500, 80 are R&D centers created by multinational corporations including Samsung electronics and Siemens AG.

(Xinhua News Agency February 15, 2005)