The Shanxi provincial government has approved 35 new foreign-invested enterprises during the first three quarters of this year, with a year-on-year increase of 6.06 percent and actual utilized foreign capital 1.83 billion yuan ($299.31 million), according to the provincial department of commerce on October 27.

The companies cover such areas as agriculture, manufacturing, electricity and gas, IT, wholesale, retail, hotel, restaurant, finance, leasing, commercial services and cultural products. The investments are sourced from countries and regions, including South Korea, Singapore, Germany, Canada, the US, New Zealand and Hong Kong.

An official from the provincial department of commerce said that these investments have been properly distributed with all three major industries. The newly-authorized enterprises are mostly technology and capital intensive, such as aircraft manufacturing, environmental protection, clean production, new energy and general equipment manufacturing. A total of 15 projects, or 43 percent of all newcomers, have financing of more than $10 million each, with total investments amounting to $1.09 billion, 96 percent of the money all projects have received as a whole.

In addition, 29 external investment projects were identified in the province from January to September this year, including 19 new enterprises abroad and 10 enterprises with changed or increased capital. The cumulative investment volume is $58.57 million. The investment of those 29 projects, involving mining, construction, wholesale and retail, manufacturing, agriculture and real estate, will go to countries such as the US, Zimbabwe, Mongolia, Mauritius and Australia. The value of newly-signed foreign contracted projects has reached $237 million, along with a turnover of $507 million.

Edited by Michael Thai