According to a release by the Nanyang Municipal Bureau of Commerce on July 13 four new foreign-funded enterprises were established in the city in the first five months of this year. They brought in $260 million in foreign capital, a year-on-year increase of 9.3 percent, and achieved 36.2 percent of the provincial annual target of 294 new projects with actually placed foreign capital equal to more than 100 million yuan. Foreign capital was 27.03 billion yuan, an increase of 15.7 percent year-on-year, and 42.2 percent of the provincial annual target.

Since the beginning of this year, Nanyang has taken the initiative to connect with projects, insisting on attracting both domestic investment and foreign capital. The growth of the funds in place is obvious, and lays a solid foundation for attracting investment throughout the year.

In the first five months of this year, the actual absorption of foreign capital and the actual growth rate of foreign capital in place in Nanyang ranked sixth and first in the province respectively.

The number of newly started projects of more than 100 million yuan increased by 119 percent year-on-year and 22 projects with foreign capital of more than 1 billion yuan were introduced, accounting for 7 percent of projects with foreign capital of more than 100 million yuan. Funds in place accounted for 20 percent; 188 manufacturing projects were introduced,  constituting 64 percent of the projects with over 100 million yuan of funds outside the province.

Among the newly signed projects, 66 are in line with national strategic emerging industry projects and account for 26 percent of projects funded outside the province with more than 100 million yuan, as well as 34 percent of contractual investment; 13 projects invested by the top 500 Chinese enterprises make up more than 100 million yuan outside the province 5 percent of the funded projects, and the amount of contracted capital accounted for 26 percent.