* Foreign Investment

By adopting the strategy of opening up more widely to the outside world, Nanjing has made outstanding achievements in developing an open economy. Up to now, 6360 foreign-invested enterprises have got approval from the city government; and 3142 of them have come into production or operation, with an actually used value of over US$5.7 billion foreign investment. In 2002, 410 new enterprises were approved, of which 114 have started or come into production. The foreign investment has come from 77 countries and regions. A batch of internationally reputable large companies, enterprises and consortiums have made investment in Nanjing one after the other, including Eastman (USA); BASF and Siemens (Germany); Shell and Philips (Holland); Itochu, Mitsui Bushan, Sharp and Toshiba (Japan); Ericsson (Sweden), Kumho Tire (South Korea) and Fiat (Italy). Of the imported projects, a high percentage of them are big ones. In 2002, the contracted foreign investment increased 261% compared with the same period over the previous year.

* Foreign Trade

There has been a steady growth in foreign trade. Now there are about 200 import and export companies, and about 100 manufacturers that have been authorized the power to do import-export business of their own products in Nanjing. Their import-export business covers petrochemical products, metals and minerals, machinery, native and animal products, light industrial and handicraft products, knitting and woven products, and oil and cereal products, etc. There are over 200 export goods each with an export value of over US$1 million a year. In 2002, the total volume of import and export value was US$10.094 billion, of which the total export value was US$6.011billion.

* Foreign Economic Relations

Nanjing now is doing labor and technology contracting business with over 50 countries and regions in over 30 sectors, such as building construction, communication, electronics, chemical engineering, machinery, and survey and exploration, oceanic shipping ae from overseas projects and labor service cooperation reached US$317 million.

* Construction of the Development Zones

The construction of the economic development zones has entered a new stage. There are 9 development zones at the national or the provincial level. Nanjing high-tech industrial development zone, Nanjing economic and technological development zone, and the Jiangning economic and technological development zone are at the national level; and the Nanjing chemical industry park can enjoy the same favorable policies as the ones at the national level. The development zones have become the converging places for the export-oriented economy of Nanjing.

At present, the total developed area of the development zones covers 70 square kilometers; the infrastructure construction has used up 7 billion yuan. Over 4600 enterprises have settled down in the development zones, of which about 1000 enterprises are foreign ones. The total contracted foreign investment is close to US$ 3 billion, and over US$1.7 billion has actually been invested in there. And there are 150 projects, each with an investment of over US$10 million.
ing-South Korea industrial park, and Nanjing bio-pharmaceutical technological and industrial park.

Now there are over 1100 enterprises from over 20 countries and regions, such as, Japan, Holland, Italy, France, USA, South Korea, Taiwan and Hong Kong, with a total investment of 31 billion yuan. 240 of all the enterprises are foreign ones with a total inv002, a total turnover of 26 billion yuan was earned from technology, industry and trade; with profit and tax 2.46 billion; and foreign exchange from its export US$555 million. The development zone now has become a main bio-pharmaceutical production base of Nanjing, and the largest production base of flat displayers in China.

Great importance has been attached to the special characters and innovation for the construction of the development zones, IT industrial park, biological pharmaceutical medicine industrial park, and the Jiangsu Software Park have been set up one after the igh level for foreign investors.

Nanjing Jiangning Economic and Technological Development Zone is a development zone that is the largest, equipped with the best community facilities and services and is developing the fastest in Nanjing. It was set up on June 18, 1992, and approved as a state-level high-tech industrial development zone on February 2, 1997.
Its total planned area is 317 square kilometers, divided into five areas: industrial park, higher learning institutions and research institutes, residential area, the greens, and tourism and holiday resorts. Over 1000 projects from 21 countries and regions have settled down in the zone (from such countries and regions as USA, Japan, Sweden, Germany, Australia, Great Britain, France, Italy, Canada, the Philippines, Singapore, South Korea, Taiwan, and Hong Kong), with a total investment of US$3.5 billion, actreign exchange of US$210 million from its export, and financial revenue of 1.081 billion yuan.

* Attraction for Foreign Investment

In recent years, Nanjing municipal government has promulgated a number of local regulations and rules that are meant to attract foreign investment with favorable conditions. Correspondingly, some special departments and service centers have been set up to provide informational consultancy service: such as, Nanjing Business Service Center, Nanjing center for taking complains from foreign businessmen, Nanjing Foreign Investors Association; and offices of lawyers, accountants and auditors offering services for foreign businessmen have also been set up, and multiple agencies and comprehensive services, including hospitals and international schools. For the foreign investors and businessmen in Nanjing, the government has adopted several special practices concerning foreign investment and business, such as, an annual combined check-up system, fee collection registration system, evaluation of the governmental work, and the system of periodical meetings between the municipal officials and the operators of the transnaNanjing Ericsson Panda Communication Co., Ltd. is a joint venture between the Swedish Ericsson Group and Nanjing Panda Electronics Co., which has been approved by the Planning Commission of China. It is the first joint venture that Ericsson Group set up inNanjing Jilun Condiment Corp., Ltd. is a Chinese-foreign joint venture invested by Singapore Fuda Food Group Corp., Ltd., with a total investment of US$20 million. It is a garden like modern enterprise. In January 2003, the Corp. has passed the QS authentication, having become one of the first batch of corporations that have been issued with food production license in China.

* International Exchanges

Nanjing has now established friendly relationships with 12 foreign cities like Nagoya (Japan), St. Louis (USA) and Florence (Italy), carrying out extensive exchanges and cooperation in the areas of economy, trade, science and technology, culture and education. Very active exchanges and cooperation have been made between Nanjing and the counterparts of USA, Japan, South Korea and the countries of European Union. High level delegations from large international companies visit Nanjing frequently; and over 400 foreign companies or institutions have set up their offices in Nanjing.

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