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Investment from Asia and South America accounts for 80 percent of the capital city's total in this year's first two months and the growth rate of foreign capital used for investment increased by 6 percent last year, according to Beijing's Municipal Commission of Commerce.
Beijing's actual use of foreign capital reached $1.67 billion by the end of February, – an increase of 7.7 percent.
About 90 percent of these investments went to the city's service sector, reaching $1.56 billion, or 93.3 percent of the total value.
Statistics show that in the first two months, the actual use of foreign capital by 29 large-scale projects in Beijing reached $1.34 billion, accounting for 80.5 percent of the total value.
About 70 percent of the funding was invested in developing the urban function of Beijing, which increased by 12 percent and accounted for 71.1 percent of the total. Meanwhile, the capital used in the city's new development areas accounted for 23.5 percent of the total and increased 58.7 percent, it being the highest growth rate.
The majority of Beijing's capital income in January and February came from Asia and South America, with 68.3 percent of the capital from Asia, 13.5 percent from South America and 9.1 percent from Europe.
An official from the Foreign Capital Development Office, in the Beijing Municipal Commission of Commerce, said that Beijing is going to explore more channels and provide better services to attract foreign capital and direct foreign investment to a group of sectors, including science and technology, medical treatment and the service industry.
Meanwhile, Beijing is going to open up new areas for foreign capital through a number of projects, such as the construction of a new airport in South Beijing, and an international media corridor in Chaoyang district, in order to attract new ways of using foreign capital, such as cross-border RMB investment, and equity investment.
Edited by Brian Salter
