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PACIFIC WATCH

China

February 06, 1995| Times Staff and Wire Reports

Beijing Attracts 10,000 Foreign Firms: City officials in the capital want to attract another 5,000 by 1997, the official Economic Information Daily reported. The paper said the 10,000 companies have invested about $14.78 billion in Beijing through 1994. The city has attracted 182 major multinational companies, each of which invested an average of about $15 million in each project. Last year, city authorities approved 2,675 new foreign-funded enterprises, 70% of which are in high-technology industries. China attracted about $35 billion in total foreign investment in 1994, 35% higher than for the previous year. The government had expected an increase of about 20%.

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