Foreign-funded enterprises flourish in Datong in first half
In the first six months of the year, Datong city in North China's Shanxi province saw healthy growth in the number of newly established foreign-funded enterprises, contracted foreign capital and actual utilization of foreign capital.
During the January to June period, seven foreign-funded enterprises, whose total investment, registered capital and utilization of foreign capital was $2 billion, $551.22 million and $542.27 million, respectively, started operating in Datong.
The foreign direct investment in the city surged to $35.9 million, an increase of 188 percent year-on-year, accounting for 71.8 percent of the annual target.
The achievements were widely attributed to proactive measures undertaken by the local authorities.
The Datong municipal bureau of commerce made efforts to adjust its energy structure, develop the digital economy and deepen reforms in the energy sector. It also increased efforts to attract foreign investment, optimize the structure of investment, as well as improve the quality of investment according to industry needs.
The bureau fully implemented a new national system that gives full play to the role of foreign business complaints mechanisms – ensuring that the companies are treated well after they start operations in Datong and report information on their foreign investment.