Foreign investment in Guangdong rises 13.5 pct in first half of 2006

31 July 2006

Guangzhou, China, 31 July – The province of Guangdong in southern China, said that Foreign Direct Investment (FDI) rose 13.5 percent in the first six months of the year as compared with the same period of 2005, the Nanfang Daily reported.

Between January and June 2006 4,054 contracts were signed with foreign groups and companies which made investment, in the same period, total US$11.48 billion.

In the first half Guangdong’s external trade grew 24.5 percent, with a 28.3 percent (US$131.1 billion) increase in exports and 20 percent rise (US$101.7 billion) in imports.

The province’s GDP posted a 14.4 percent increase in the first six months of 2006, totaling US$143 billion.

In the same period, taxes charges by the Guangdong provincial government, which account for one seventh of all taxes collected in China, reached 248 billion yuan (US$31.15 billion), or a 19.68 percent rise on the first six months of 2005.

Guangdong province covers an area of 180,000 square kilometers and has a population of some 75 million people. (macauhub)