Foreign backers given go-ahead

PUBLISHED : Monday, 20 July, 1998, 12:00am
UPDATED : Monday, 20 July, 1998, 12:00am


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Beijing approved 329 foreign-funded enterprises for the city in the first six months this year, with investment rising about 30 per cent year on year. Increasing levels of investment had gone to hi-tech industries, with 42 per cent of the projects in the service sector, officials said. Multinational firms, including Motorola and JVC, had established about 30 companies, while 323 international firms had invested US$3.63 billion in Beijing to date.