Foreign direct investment into northwest China's Xinjiang Ugyur
Autonomous Region hit a record high last year with nearly 100 newly
approved foreign-funded projects, the regional government said.
The projects brought US$360 million of contractual investment,
up 34 percent year-on-year, said Qian Yong, an official in charge
of foreign trade and economic cooperation.
Meanwhile, Xinjiang's actual utilization of FDI more than
doubled from the previous year to US$103 million, said Qian.
By the end of last year, the region had approved the
establishment of 1,539 foreign-funded businesses and its actual use
of overseas funds totaled US$728 million, he said.
Qian named two major projects as having spurred an investment
flurry last year -- a Xinjiang-based water-saving irrigation
company that went public in Hong Kong and Jinchuan Mining Co. Ltd,
a Sino-Australian joint venture.
Xinjiang, whose borders run for over 5,600 kilometers, has set
up trade ties with more than 100 countries and regions. The
regional customs said foreign trade topped 9 billion U.S. dollars
last year, with a trade surplus of US$5.17 billion.
(Xinhua News Agency January 30, 2007)