BUSINESS Foreign-funded enterprises' profits surge in China's Sichuan

BUSINESS

Foreign-funded enterprises' profits surge in China's Sichuan

Xinhua

19:18, December 20, 2019

A night view of Taikoo Li, a shopping center, in Chengdu, Southwest China's Sichuan province on June 16, 2017. (Photo: VCG)

CHENGDU -- Foreign-funded enterprises in Southwest China's Sichuan province saw their net profits reach 55.95 billion yuan (about $8 billion) in 2018, up 13.4 percent year-on-year, according to a recent report.

The revenue of the companies totaled 674.57 billion yuan, the report by the Sichuan Provincial Bureau of Economic Cooperation showed.

The number of foreign-funded companies increased by 77 last year, reaching 3,426 in total, ranking top in the western region, it showed.

The top five industries with a high concentration of foreign-funded enterprises in the province are manufacturing; leasing and business services; wholesale and retail; real estate; information transmission; and software and information technology services.

Yi Yang, deputy head of the bureau of economic cooperation in Sichuan, said the foreign-funded enterprises have contributed significantly to the import and export of the province and improved the employment structure.

China issued a guideline in early November to improve the business environment for foreign investors with a focus on the national treatment of foreign-funded enterprises.

Related Stories

Terms of Service & Privacy Policy

We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies

Agree and continue