QINGDAO approved 521 foreign-invested projects in the first three quarters of this year, 12.5 percent more than the same period last year. Contracted foreign capital reached US$3.203 billion, increasing by 221.7 percent over last year. About US$1.92 billion would be paid into the accounts, an increase of 78 percent over last year. This means the total contracted foreign capital and capital paid into accounts had increased for 11 successive months since October last year, according to the city’s commerce bureau.

    In the first nine months of this year, 105 projects had investment of more than US$10 million with total contracted foreign capital of US$2.14 billion, accounting for 66.7 percent of the total contracted foreign capital. A growing number of investments from international giants with high technology, profit and bright marketing prospects were attracted to the city’s high-end manufacturing and modern service industries, which had helped industrial upgrading and transformation.

    (Wang Yuanyuan, Zhou Jianliang)