Shenzhen City in south China's Guangdong Province expects that the actual inflow of overseas capital into the city will hit US$3.6 billion this year.
An official with the overseas investment bureau of Shenzhen City told reporters that the contractual overseas investment will amount to US$4 billion.
Both statistics will be record high, said the official.
According to the official, the city has shown good signs in overseas investment since the beginning of the year. In the first ten months of the year, the city approved 1,513 overseas invested projects, up about 3 percent from the same period last year, and the contractual overseas investment totaled US$3.42 billion, up 52.1 percent.
During the same period, the inflow of overseas investment into this southern Chinese city was US$2.9 billion, up 17.75 percent.
The official attributed the good signs in overseas investment to the city's increasingly improved investment environment. While a growing number of multinationals have chosen Shenzhen as an important base for them to move in their businesses, more and moreglobal business giants already settled down in the city have started to add investment.
Shenzhen City,which falls under jurisdiction of Guangdong Province, is a boomtown facing Hong Kong across a local river and is also one of China's five special economic zones.
(eastday.com December 11, 2001)
