During the first five months of this year, East China's Zhejiang province's actual use of foreign investment reached $8.56 billion (excluding data from banks, securities firms, and insurance firms), up 39.1 percent from the previous year, according to the latest statistics from the Zhejiang Provincial Department of Commerce.

"Zhejiang's actual use of foreign investment accounts for 12 percent of the national aggregate, ranking fourth among all provincial-level regions, following Jiangsu, Guangdong, and Shanghai," said an official from the Zhejiang Provincial Department of Commerce.

A total of 1,467 foreign-funded companies were established in Zhejiang over the first five months of this year, up 61.4 percent year-on-year.

Large investment projects saw a consistently growing proportion of all foreign-funded projects. The number of projects each drawing in over $30 million in foreign investment is 59 over the five-month period, with their combined investment reaching $4.89 billion, 50.1 percent higher than the corresponding figure last year.

The actual use of foreign investment in the province's manufacturing sector surged 63.5 percent year-on-year to $2.75 billion, making up 32.3 percent of the total, up 4.8 percent from the previous year.

Moreover, the figure for the province's high-tech industries stood at $3.79 billion, soaring 91.1 percent year-on-year. In particular, the foreign investment in the medicine, electronics and telecommunications equipment, as well as computer and office supplies industries respectively grew by 5.9 times, 1.6 times, and 25.6 times from the previous year.

The 23rd China Zhejiang Investment and Trade Symposium, held in Ningbo, Zhejiang province on June 7, matches Zhejiang's cooperation potential with overseas investors. [Photo provided to chinadaily.com.cn]