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More foreign investment flows into SW China
2004-03-02
Xinhua
Southwest China's Yunnan Province has accelerated economic development by introducing more foreign funds and encouraging its open economy.
Last year, Yunnan approved 167 projects funded by foreign investors, with a total value of 168 million US dollars, a year-on- year growth of 46 percent, says an official with the provincial government.
The majority of foreign investment went to the province's mainstay industries, such as electric power, tourism, mineral resources and pharmaceuticals.
The official said both state-owned and private enterprises in Yunnan had benefited from foreign investment, and most foreign- funded projects had progressed smoothly and efficiently.
Foreign investment was important to intensifying reforms in state enterprises, optimizing industrial structures, further utilizing natural resources and promoting industrialization, the official said.
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