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Foreign
Economic and
Technological Cooperation
Since the 1950s, China has provided
economic aid to developing countries. Since the adoption of the
policy of reform and opening to the outside world, China has quickened
its pace of foreign aid, involving agriculture, forestry, water
conservancy, light industry, textiles, food, power, machinery, chemicals,
transportation, culture, education, public health and public utility
projects. Some of them are large and medium-sized, while others
are small projects featuring less investment, but quick and high
economic returns. By 1999, China had aided more than 130 countries
and regions, and completed 1,500 foreign-aid projects.
Contracted projects and labor
service cooperation with foreign countries are brand-new undertakings
developed since the initiation of reform and opening to the outside
world. To date, China has such undertakings in 187 countries and
regions. In 1999, the contracted capital agreed to in newly signed
contracts for overseas engineering projects or labor services reached
13 billion US dollars-worth; completed turnover amounted to 11.2
billion US dollars-worth; and more than 380,000 laborers had been
sent abroad.
China has also made
initial progress in making investments abroad. China has more than
160 foreign investment markets, and 5,793 investment enterprises outside
Chinese territory. China’s total agreed investments have come to 6.5
billion US dollars-worth. These overseas investment enterprises are
engaged in a wide range of businesses, including foreign trade, real
estate investment, information consultancy, finance, insurance, catering,
tourism, contracting for labor services, culture, education, public
health and technology development. |
