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Shenzhen Absorbs More Foreign Investment
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Shenzhen, an economic engine in south China's Guangdong Province, approved the setting-up of 2,292 foreign-funded enterprises in the first three quarters of the year, local government sources said on Friday.

The number was 9.8 percent higher than a year earlier.

Between January and September, Shenzhen absorbed US$4.07 billion in contracted foreign capital, up 6 percent, and actually used US$2.59 billion, up 11.6 percent. More than half of the contracted foreign capital went to the service sector, the sources said.

Some 120 of the 2,292 projects declared investment of more than US$10 million each, and 56 projects involved investment of more than US$30 million each, the sources added.

(Xinhua News Agency November 3, 2006)

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