In January-May this year, Hubei Province approved 192 foreign-funded projects with contracted value of 4.997 billion U.S.dollars , up 44.36 percent and 44.94 percent, respectively; the actual use of foreign capital reached 5.347 billion U.S.dollars, up 9.31 percent, according to the Department of the Commerce of Hubei Province on July 1, 2019.

  The province's strength in attracting foreign capital has been heating up. In the first five months this year, up to 36 enterprises in Hubei actually utilized foreign capital of more than 10 million U.S.dollars and 7 enterprises enjoyed paid-in investment of 50 million U.S.dollars.

  The contracted foreign investment began to pick up. In January-May, Wuhan, Xianning, Xiaogan and Jingzhou raked in foreign contracts worth over 100 million yuan, respectively, while Xianning, Tianmen, Enshi and some other cities and prefecture witnessed upswing of more than 10 percent in the contracted foreign investment.

  In the first five months, the actual use of foreign capital in the secondary industry was 2.988 billion U.S. dollars, a year-on-year increase of 23.6 percent, of which, the manufacturing industry utilized foreign capital 2.632 billion U.S. dollars, ensuring the third consecutive month of growth. The service industry approved 130 foreign-funded projects which accounted for contracted foreign investment of 4.345 billion U.S. dollars, up 64.56 percent and 73.64 percent, respectively.

  From January to May, Hong Kong, Singapore and Japan invested 2.385 billion U.S. dollars, 468 million U.S. dollars and 151 million U.S. dollars in Wuhan, respectively, ranking the top three sources of foreign capital in Hubei. In particular, Singapore's actual investment maintained to double for a fifth consecutive month and the United States saw a 1.8-fold increase to 146 million U.S. dollars.

  It's important to highlight that, from January to May, the province added three world’s top 500 companies, and as of the end of May, the world’s top 500 companies in Hubei have amounted to 283, which includes 184 foreign giants, remaining No.1 in Central China. (hubei.gov.cn by Ruan Xinqi)

  Source: hubei.gov.cn