FDI up 7.7% in dynamic Zhejiang

Eastern Zhejiang province attracted US$13.07 billion in contracted foreign investment in the first 11 months of 2005, up 7.7% year on year. Provincial authorities approved the establishment of foreign invested 711 enterprises valued at more than US$10 million, and accounting for 76% of total pledged foreign investment. The province also used US$5.82 billion in FDI in the same period, up 6.7% over last year. Fifteen Fortune 500 companies started 21 enterprises in Zhejiang, bringing the Fortune 500 total to 71.