Top Biz News

Heilongjiang economy on upward swing

By Te Kan (China Daily)
Updated: 2006-11-11 11:50

Heilongjiang has imported 990,000 tons of crude oil from Saudi Arabia so far this year, accounting for 84.6 per cent of the province's total imported oil.

Meanwhile, the United States, Hong Kong and Japan have also become three major trade partners with Heilongjiang, with the bilateral trade volume reaching US$618 million, US$591 million and US$472 million respectively, in the first nine months of this year, statistics from the local government said.

In particular, Heilongjiang also witnessed a record high of export and import volumes via ports, hitting more than 7.2 million tons of goods in the first nine months of this year.

Thanks to its ever-increasing foreign trade development, Heilongjiang has developed foreign trade relationships with more than 140 overseas countries and regions.

Sources with the local government added that there are more than 4,000 categories of goods being exported to foreign countries and regions.

A number of renowned Heilongjiang-based brands are also getting international recognition.

In particular, Harbin Hafei Automobile Industry Group Company Ltd, a backbone production enterprise and R&D base of automobiles and automobile engines in China, exported more than 20,000 cars to the international market in the first half of this year.

Its car series have also been exported to more than 40 countries and regions. And it is expected that the company will export more than 30,000 cars to the overseas market.

In international investment co-operation, 73 foreign countries and regions have invested in the province.

In addition, 23 of the world's top 500 multinational corporations have invested in Heilongjiang.

The province's contractual investment volume from the European Union has reached US$36.35 million this year.

Experts said that China's policy of revitalizing the old industrial base in Heilongjiang would provide more opportunities for foreign investors in the years to come.

The Heilongjiang provincial government has mapped out plans to continue its increasing trend of economic and trade development in the fourth quarter of this year.

According to Zhang Zuoji, governor of Heilongjiang Province, the province will give top priorities to introducing foreign investment in the remaining months.

A well-established system of land use and investment for industrial projects has been attached great importance, Zhang said.

According to Zhang, the province will soon hold two investment promotional weeks in Hong Kong and the Republic of Korea at the end of this year.