Basic Conditions of Investment in Beijing by Multinationals Corporations in 2003
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| 5/11/2004 1:6:25 Extract from the ＾2004 Report of Multinationals" |
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From January to December 2003, Beijing municipal government had newly approved 1360 foreign-funded enterprises for establishment in Beijing, down 0.7% against the same period last year; absorbed contracted capital USD 3.27 billion, up 16.5% against the same period last year; actual utilization of direct foreign investment (DFI) USD 2.15 billion, up 19.8% against the same period last year.
Multinational corporation investment in Beijing in 2003 mainly displayed the following features:
1. Outstanding growth in actual investment by multinational corporations in the manufacturing sector;
From January to December, actual amount of absorption of foreign capital by the manufacturing industry in Beijing amounted to USD 760 million, up 31.9% against the same period last year, which was mainly contributed by foreign capital input led by automobile-dominated machinery and equipment manufacturing industry; during the same period, there were 456 newly approved projects from the manufacturing industry, with contracted foreign capital worth USD 850 million, of which, manufacturing of electronic communication equipment, and machinery equipment were still the main industrial sector of multinational corporation investment in the manufacturing industry in Beijing.
2. Service industry had become the hot spot of multinational corporation investment
From January to November, actual foreign capital utilization in Beijing by the service industry stood at USD 1.39 billion, up 18% against the same period last year, with main contributions from merchandise whole sales and retail sales, as well as food and beverage; in the same period, there were 847 projects invested in the service industry, such as the public service sector, real estate, and investment companies etc, contracted foreign capital USD 2.31 billion, up 8.2% and 34.3% respectively against the same period last year, accounting for 62.3% and 70.6% correspondingly of the total number of projects of the same period. Of which, merchandise whole sales and retail sales as well as food and beverage sector had been developing rapidly, and a batch of world leading multinational retailers had been setting offices in Beijing. At the same time, information consulting, and credit guarantee and financing service sectors etc. were also booming, which had played a positive role in promoting gradual improvement of the service functions of Beijing.
3. Areas of investment by Multinational corporations in Beijing were relatively concentrated
Areas of investment by multinational corporations in Beijing were relatively concentrated in the Central Business District (CBD), Beijing Economic and Technological Development Area, Zhongguancun Science Park, and Beijing Tianzhu Air Harbor Industrial Area etc., with therefore obvious industrial concentration effect. Majority of the multinational corporations had located their investment companies or regional headquarters within the CBD area, and set up their production and manufacturing bases in high-tech manufacturing bases, such as Beijing Economic and Technological Development Zone, or Beijing Tianzhu Air Hour Industrial Zone etc., research and development (R & D) units in Zhongguancun Science Park. Different regional arrangement by multinational corporations in commerce, manufacturing, research and development in Beijing, had vigorously supported the Beijing reasonable urban industrial arrangement and effective display of its urban functions.
4. Multinational corporations had been very enthusiastic in their capital augmentation in Beijing, the number of investment companies and regional headquarters continually rose, another 8 investment companies had augmented their investment worth USD 210 million this year; of some of the manufacturing projects already invested and put into operation in Beijing, augmentation of investment by foreign investors had reached USD 150 million, total increase of contracted foreign capital stood at USD 510 million. This year, another 4 leading multinational corporations had set up their regional headquarters in Beijing, making multinational corporation regional headquarters recognized by Beijing totaling 24; and 7 investment companies had also been newly approved by Beijing municipal government. As a result, Beijing had continually maintained its important position of multinational corporation strategic investment in Beijing.
5. Foreign-invested enterprises had overcome the impacts of SARS epidemic with sound performance of business benefits, and their status and roles in the capital economic development had become more prominent.
According to analysis to 5400 foreign-invested enterprises, from January to September 2003, sales revenue had reached RMB 209.1 billion, up 11%, gross profit RMB 14.9 billion, up 67%; of which, industrial enterprise had achieved obvious growth of benefits. Foreign-invested enterprises had become a very stable and important force for Beijing¨s economic development.
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