Xiamen's contractual foreign capital up 21.9% in Q1

The coastal city of Xiamen in East China's Fujian province attracted contractual foreign investment totaling 6.75 billion yuan ($954 million) in the first quarter of 2020, up 21.9 percent year-on-year.

The city attracted 222 new foreign-invested enterprises in that period, and the actual foreign capital utilization was 5.97 billion yuan, growing by 30.1 percent year-on-year and accounting for 53 percent of Fujian's total number.

Statistics showed that high-tech manufacturing in Xiamen saw robust growth in the first three months of this year. The city's actual foreign capital utilization totaled 1.15 billion yuan, up 9.9 percent year-on-year, and that of the high-tech service sector increased by 18.9 percent to 520 million yuan.

From January to March this year, the city attracted 22 foreign-funded projects with contractual foreign investment exceeding $10 million.