Center

YHD uses nearly half of foreign capital

(Xinhua)
Updated: 2006-05-11 09:44

Urban centers along the Yangtze River Delta, one of China's three major city clusters, has absorbed nearly half of the country's total foreign capital

The region has used 47.8 percent of the total foreign capital in China, according to officials and experts at an ongoing forum on economic development along Yangtze River in Nanjing, capital of east China's Jiangsu Province. Statistics show that more than 400 of the world's top 500 companies have established a foothold in the delta.

The forum expects more foreign investment for the upper and middle reaches of Yangtze River as industrial relocation progresses.

Experts say the Yangtze River economic belt has become a high-tech base in China, and expect to play a crucial role in the country's development.

Thirty-seven percent of China's GDP was earned in the three major city clusters which also include the Pearl River Delta and the Bohai Bay rim.

The per capita disposable income of urban residents topped 15,000 yuan (1,875 U.S. dollars) in the 16 cities in the Shanghai-centered Yangtze River Delta last year. The delta's other major cities include Hangzhou and Nanjing.

Disposable income has risen by 13.3 percent over 2004, show statistics provided by the Yangtze River Delta Research Center in the city of Wuxi.