Fair links east to west
THE East China Fair, the biggest regional fair in China, will help build up Shanghai's trade and economic ties with poverty-stricken inland regions in China, a senior official organizing the fair said.
Opportunity to look for partners
ENTREPRENEURS can increase their reputations in the international market, exchange the latest develop-ment information and get to know new clients at the East China Fair,
Doors open for local, foreign companies
THE East China Fair which is held annually in Shanghai will open its doors to trade visitors for the 10th consecutive year on Sunday.
Duolun Road, home to Chinese treasures
DUOLUN road in Hongkou District is an old street boasting some of the city's best examples of European villas and mansions as well as old Shanghai-style buildings. It was once home to some of China's most famous intellectuals, including Lu Xun, Guo Moruo, Mao Dun and Ye Shentao.
Neighbouring cities boost high-profit foreign trading
By Chen Qide
JIANGSU Province has developed fast over the past 20 years thanks to China's opening-up policy. The province handled foreign trade valued at $32.2 billion last year. Of the figure, exports accounted for $18.3 billion. The province's foreign trade accounts for 34.6 per cent of its gross domestic product, Ye Jian, director of the Jiangsu Foreign Economic and Trade Commission, said while prepar-ing for the upcoming East China Fair. Ye said industrial products made up 95.9 per cent of exports and machinery and electronics made up 24 per cent. "Jiangsu's favourable business environment has become an attraction to foreign investors," he said. Between 1978 and 1999, the province launched 37,967 overseas-funded projects with a combined contractual investment of $74.6 billion. The director said about $40.4 billion in foreign funds were channelled into the province during the period, representing 23 per cent of the province's investment in fixed assets projects. About 180 of the world's top 500 multinational companies have set up 401 ventures in Jiangsu and they are planning to increase investment in them, Ye said. "Many projects are geared to the high technology industry," the director said. Jiangsu has 11 State-level development zones and 68 provincial-level zones, which have become a focus of foreign investment. Ye said the province will further improve its opening-up system to attract more foreign investors. Foreign investment in Shandong Province has also surged over the past few years. As of 1999, the province had approved projects valued at $37.1 billion. "Foreign funds have been a major financial source for Shandong's economic development," said a provincial official. Statistics indicate foreign investors had a 20 per cent stake in the funding of fixed assets projects in the province last year. Taxes from overseas-funded ventures represented 12.6 per cent of total tax revenue. Foreign investors come from more than 100 countries and regions including the world's top 64 multinational companies, the official said. Anhui Province has emerged from the shadow of the Asian financial crisis and welcomed further development. Last year, it achieved a trade volume of $2.65 billion including exports of $1.68 billion. Exports included machinery, electronics, textiles and high-tech products, which were sold to more than 170 countries and regions. As of 1999, Anhui had approved 4,400 overseas-funded ventures that had a combined contractual investment of $4.9 billion. "Foreign investors are showing strong interest in Anhui," a trade official from the province said.
Copyright 2000 by Shanghai Star. All rights reserved.