Fujian's use of foreign investment up 19.2% from Jan-Oct

Fujian's actual use of foreign capital surged 19.2 percent year-on-year to 29.38 billion yuan ($4.48 billion) in the first 10 months of this year, according to statistics released by the province's commerce department.

Statistics show that the coastal city of Xiamen's actual use of foreign capital grew 32.5 percent year-on-year from January to October, and that in the Xiamen Area of the China (Fujian) Pilot Free Trade Zone grew 197 percent year-on-year during the same period, the highest in the province.

The province's service sector attracted 16.23 billion yuan in foreign direct investment during the 10-month period, rising 55.3 percent year-on-year and accounting for 55.2 percent of Fujian's total use of foreign capital. The high-tech manufacturing sector in Fujian also recorded a year-on-year growth in paid-in foreign investment of 12.3 percent during the period.

Foreign investment from Europe rose 43.8 percent year-on-year, while that from Japan increased by 132.8 percent year-on-year.

According to statistics, Fujian's actual use of foreign capital in October expanded 18.3 percent year-on-year to 2.87 billion yuan. A total of nine enterprises contributed to a total investment of 2.26 billion yuan in October, accounting for 79 percent of Fujian's total.