ZHEJIANG has recorded a huge increase in foreign investment during the past year, says vice-governor Long Anding. Mr Long is in Hong Kong for a trade fair that starts today. He said Hong Kong investors ranked first in terms of investment in Zhejiang, followed by Taiwanese and American investors. The week-long trade fair was jointly organised by the Zhejiang Provincial Government and Hong Kong Trade Development Council, and will feature 410 investment projects covering sectors such as highway construction, a nuclear plant and property development. Yang Zucheng, vice-chairman of the Zhejiang Foreign Economic Relations and Trade Commission, said foreign investors had become more aggressive in the past year. According to Mr Yang, foreign contractual investment in the first 10 months this year had climbed to US$3.4 billion - 90 per cent of the total for the past 15 years. The realised amount in that period was $810 million, against $580 million for the 15 years to the end of 1992. ''Compared with other provinces, our amount [of foreign investment realised] is above average. The national average figure in 1992 was about 20 per cent,'' said Mr Yang. Last year, Zhejiang's output was worth 117.4 billion yuan (about HK$157 billion at the official rate), up 17 per cent from the previous year. Two thirds of the growth was contributed by the province's township enterprises. Mr Long said he was confident that provinces like Zhejiang would not be badly affected by the tax changes to be introduced next year, which will split tax revenue between central and local treasuries. Mr Long said Zhejiang ranked fourth in terms of financial contribution to the central Government, and he thought its greater contribution would be taken into account when Beijing assessed the amount the province would get.