In the first half of 2011, Ruzhou city of Henan province attracted 9.21 billion yuan of inward investments. The province has unswervingly implemented its economic strategy to attract investment to Ruzhou.
The city has sent a great many delegations in 2011 to participate in business activities such as Henan-Beijing-Tianjin Economic and Technological Cooperation Fair, Fujian Merchants Yingcheng Tour, Henan-Shanghai Economic Cooperation Symposium, 2011 Henan-Hong Kong-Macao Trade and Economic Exchanges, Pingdingshan (Shenzhen) State-of-the-city Brief and Projects Negotiation, 2011 China (Henan) ASEAN Cooperation Fair. As a result, six contracts were signed with a total value of 2.024 billion yuan.
These series of activities have attracted a number of projects and partners – eucommia ulmoides planting and deep processing project, co-invested 560 million yuan by Economic Forest Research Center under the Chinese Academy of Forest and Henan Hengruiyuan Industrial Co., Ltd., Its operations started in early July. Quanzhou businessmen from Fujian invested a total of 120 million yuan in a building materials project. A valve finishing project by Naideduo Valves Manufacturing Co., Ltd. has invested capital worth 320 million yuan. A 270 million yuan worthy waste-to-power project invested by Hong Kong Green Oriental Co., Ltd. is under discussion. A 300 billion yuan new energy project by Zhuhai Solle Enterprise Co., Ltd. is in progress. A metallic nickel refinery project worth 500 million yuan co-invested by a Jakarta-based of Indonesia and the government of Jiliao town, of which 114.9 million yuan has been put in place, is expected to debut at the end of October.
Over the first six months, Ruzhou has introduced 47 projects of capital outside. The total inward investment hit 9.21 billion yuan, among which 8.69 billion yuan of the contracts were outside capital and 3.32 billion yuan was actual capital. Actual use of foreign investment reached 35.46 million USD, accounting for 295.5 percent of the targeted 12 million dollars by Pingdingshan city.
The investment has boosted economic growth in Ruzhou. In the first half of the year, non-public economic revenue reached 38.9 billion yuan, up 21.5 percent from the same period last year; profit reached 5.1 billion, up 18 percent; taxes equalled 850 million yuan, up 12 percent; and industrial added value came up to 10.1 billion yuan, up 15 percent.
Edited by Tania Lee