Trade & Investment

Xiamen's actual use of foreign capital hits $1.97b in 2014

Updated: 2015-01-09
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As the project of Xiamen’s Free Trade Area was approved in late 2014, the Xiamen Commerce Bureau has launched a serious of reforms and innovations to strengthen the city’s internationalized investment environment to attract more foreign investments. With these efforts, the Xiamen government will provide more favorable conditions for the upgrading and development of the foreign companies.

In 2014, the contract volume on foreign capital to be utilized reached US $2.85 billion, and the foreign capital utilized by Xiamen in real terms came to US $1.97 billion, up 49.5% and 5.3% year on year, respectively. Among which, the rate of contract volume on foreign capital to be utilized was 47.6% higher than the average level of the rest of Fujian Province.

According to the Xiamen Municipal Bureau of Commerce, they will simplify the approval process of foreign investment into a unified model of “1 declaration form, synchronized acceptance, and simultaneous approval” in 2015. Besides, they will take more measures to attract foreign investments, strengthen overseas investments, and update Xiamen ports’ service abilities to create a favorable environment for the development of an export-oriented economy. In addition, the city will focus on economic cooperation with areas and countries along the “Silk Route economic belt” and the “21 century Maritime Silk Route”. 
   
SOURCE: WOX Team
  
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