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Fifty big projects, needing a total investment of US$240 million, have been listed for overseas investment by Yingkou, the second biggest port city in Northeast China.
The projects are in agriculture, infrastructure construction, urban construction and high-tech sectors. Eleven of the projects need investments of US$10 million each.
To better introduce these projects to overseas investors, the city is planning to hold a series of trade and investment fairs overseas this year.
Later this month, representatives from a group of enterprises in this port city will go to Germany and France to hold talks with potential investors.
This delegation will also join the 300-member strong Liaoning group going to Hong Kong from May 14 to 16 to participate in the Liaoning trade and investment symposium there.
Also planned are trips to Japan, South Korea, the United States and Canada by officials and enterprise representatives later this year.
"We are expecting investment from and co-operation with big-name companies, especially the Fortune Global 500 companies," said Meng Fanli, Party secretary of the city.
He said the city is inviting overseas investment for the construction of its development zones, harbours, urban construction and export-oriented agriculture. Cooperation with big and medium-sized State enterprises is also warmly welcome.
"We aim to solicit US$220 million in actual foreign investment this year," Meng said.
The city is also constructing a special area in its high-tech development zone for investors from South Korea.
Last year, the port city received US$153 million in overseas investment. Eighty foreign-funded firms were established.
To further develop its export-oriented sectors, the city is encouraging its enterprises to be involved in the machinery, textile and light industries to build factories overseas, especially in developing countries in Africa, central Asia and eastern Europe.
Foreign trade firms are also encouraged to tap markets in Russia, eastern Europe, South America, Africa, the Middle East and countries bordering China as well as consolidate markets in North America, Europe, Japan and South Korea.
Yingkou aims to earn US$450 million from exports this year, 18.4 percent up from last year, according to Meng.
(China Daily 04/11/2001)
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