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Xiamen's foreign capital inflow tops Fujian cities

(chinadaily.com.cn) Updated:2020-01-10

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The actual use of foreign capital in Xiamen surges 25 percent year-on-year to 13.42 billion yuan ($1.93 billion) in the first 11 months of 2019. [Photo provided to chinadaily.com.cn]

Xiamen in East China's Fujian province saw robust growth of foreign capital inflow in the January-November period in 2019, local media reported on Jan 9.

The actual use of foreign capital in the city surged 25 percent year-on-year to 13.42 billion yuan ($1.93 billion) in the first 11 months of 2019.

With that figure the city accounted for 42.6 percent of province-wide use of foreign capital, 7.4 percentage points higher than last year.

The city introduced 1,322 foreign-funded companies over the same period, an increase of 8.8 percent year-on-year, and 35.52 billion yuan worth of contractual foreign capital, accounting for 32 percent of the total provincial amount.

Moreover, overall foreign trade in Xiamen increased 5.6 percent year-on-year from January to November last year to 577.42 billion yuan, placing it sixth nationwide in the comprehensive competitiveness of import-export trade.

The city's exports to countries involved in the Belt and Road Initiative jumped 13.4 percent year-on-year to 103.24 billion yuan, accounting for 32.4 percent of the total export trade in the city.

Taking Xiamen OCS Trading Co Ltd as an example, its independently designed product cocktail dresses have been sold to more than 100 countries and regions with thousands of orders each day and more than 100 million yuan in annual sales.

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