Shenzhen, a major city in southern China, attracted nearly US$3 billion of foreign capital in the past year, a yearly rise of 26.33 percent, local authorities said.

The contractual use of foreign capital by Shenzhen, an economic powerhouse in Guangdong Province, surpassed US$5 billion last year, up 27.41 percent year-on-year, according to statistics of the Shenzhen trade and industry bureau.

More than half of the contractual foreign capital went into tertiary industry, such as modern logistics, commerce and service sectors, statistics show.

In the past year, Shenzhen also saw increase in foreign direct investment, sources with the bureau said.

Direct investment from Britain increased by 182.58 percent; that from Canada reported a growth rate of 36.24 percent; and from the United States, up 10.4 percent, statistics show.

In Asia, investment from the Republic of Korea to Shenzhen last year grew by 266.67 percent, while for investments from Japan and Singapore, the growth rate was 104.98 percent and 17.31 percent, respectively.

(Xinhua News Agency January 20, 2006)