Xiamen's actual use of FDI surges 13.8% in Jan
The actual utilization of foreign direct investment (FDI) in the coastal city of Xiamen, East China's Fujian province totals 1.97 billion yuan ($304.38 million) in January this year. [Photo/xmnn.cn]
The actual utilization of foreign direct investment (FDI) in the coastal city of Xiamen, East China's Fujian province totaled 1.97 billion yuan ($304.38 million) in January this year, increasing by 13.8 percent, according to data released by the city's commerce bureau.
Xiamen's actual use of FDI accounted for 48.3 percent of Fujian's total amount, 2.5 percent higher than the previous year.
The city's service sector utilized 1.22 billion yuan of FDI in January, accounting for 62.2 percent of the city's total.
The launching of a number of key foreign projects, such as Electric Glass (Xiamen) Company, has played an important role in the sustainable growth of foreign investment and reflected the city's increasing economic appeal to foreign investors.
Starting this year, the city's commerce bureau has organized a number of investment promotion activities, such as negotiations, meetings, and business matchmaking activities, to offer platforms for overseas investors.
Authorities in Xiamen have vowed to further improve its business environment to share the development opportunities of the city in the new year with foreign businesses.
Why Xiamen
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Xiamen is one of the most economically competitive cities in China and was one of the first Special Economic Zones on the Chinese mainland. As a vice-provincial city independently listed on the State development plan, it has provincial-level authority in economic administration and local legislative power. In 2010, the Xiamen SEZ was expanded to cover the entire municipality. Today, Xiamen is a modern and international port city.