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Hubei Province Reports Overseas Investment Surge

Central China's Hubei Province approved 149 overseas-funded ventures in the first six months of the year, up 1.4 percent from the same months last year.

Sources from the provincial foreign trade and economic cooperation bureau said that from January to June, contractual overseas investment in Hubei rose by 10.6 percent to hit US$308.24 million and the actual inflow of overseas investment was US$653.26 million, up 38.5 percent.

Most of the overseas investors are from Asian countries and regions, and 73 percent of the newly approved ventures are engaged in manufacturing businesses. The province had 71 solely overseas-funded ventures approved in the past six months.

Wuhan, a large city on the middle reaches of the Yangtze River and also the capital of Hubei, remains the center of the overseas investment rush. Overseas investment in the city's real estate and modern commerce has been rising the fastest.

In the first six months of the year, Wuhan had an actual inflow of US$367 million of overseas investment, up 35.9 percent.

(Xinhua News Agency 07/25/2001)

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