Foreign Direct Investment In Footwear And Clothing Enterprises In Fujian Has Reached A Record High.

According to the Fujian Provincial Department of foreign trade and economic cooperation, in the first half of this year, 80 newly approved foreign direct investment enterprises in Fujian Province, with a total investment of 229 million US dollars, and China's actual investment amount of US $183 million, increased by 129%, 50% and 206% respectively over the same period last year, and three indexes all reached the highest level in history.

Since last year, many factors such as the appreciation of the renminbi, the rising cost of raw materials and labor have increased the pressure on enterprises to survive.

In order to reduce the cost of trade and reduce the risk of exchange rate, many enterprises, especially the private enterprises, choose "go out" to find a way out.

According to the Fujian Provincial Department of foreign trade and economic cooperation, the main form of overseas investment of Fujian enterprises is to set up their own overseas trading company with trade as their guide, or set up direct selling channels such as chain stores and brand stores, so as to grasp the sales channels and value added links and enhance the competitiveness of the international market.

At present, more than 300 enterprises in Fujian have established foreign trade outlets in Hongkong and other places. Nearly half of the overseas private enterprises are engaged in the development of trade and services.

As of May 2008, there were 486 private overseas enterprises approved and approved by Fujian, accounting for nearly 71.5% of the total number of approved enterprises, and the total foreign direct investment reached 490 million US dollars.

At the same time, overseas processing and trade in overseas production and processing to drive the export of raw materials and equipment in the province has also become the mainstream way of overseas investment of private enterprises in Fujian. More than 150 private enterprises in Fujian have set up overseas processing trade enterprises abroad, involving textiles, clothing, building materials, sports shoes, edible fungi and other fields, driving large quantities of raw materials and semi-finished products export annually.

According to statistics, in 2007, Fujian invested 219 million US dollars in foreign investment, an increase of 27% over the same period last year, of which China's investment amounted to US $136 million, an increase of 56% over the same period last year.