Qinghai, a remote plateau province in northwest China, reported growing influx of overseas capital in the first half of this year, when 26 overseas-financed ventures were approved with contractual overseas investment up 50 percent year on year to US$102.7 million.
Most of the newly approved overseas-financed projects are involved in development of tourism resources, which is seen as an echo of the province's policy to lay emphasis on tourism development, according to officials with the provincial committee of foreign trade and economic cooperation.
Since China announced its strategy to develop the vast western regions, Qinghai, an inland province with rich natural resources, has becoming increasingly attractive to overseas investors.
The investors are from Hong Kong, Macao, Taiwan, and countries including the United States, Canada, the Netherlands, Argentina, Malaysia, Indonesia, and Singapore.
Apart from tourism, overseas investment is now found in the fields of agriculture, animal husbandry, manufacturing, textiles, power generating, construction and real estate development.
(Xinhua 07/30/2001)
