East China's Jiangsu Province approved the establishment of 3,227 foreign-funded companies in the first eight months of this year, down 15.9 percent from the year-earlier level.

Provincial government sources said the newly establishments involved 29.9 billion US dollars in contractual foreign capital, up 18.5 percent year-on-year. Of the total, 6.5 billion US dollars were already in place, up 16.55 percent.

From January to August, foreign direct investment, or FDI, in Jiangsu increased by 15.1 percent year-on-year to 28.9 billion US dollars in contractual form, ranking first in China. FDI actually used in the province stood at 6.5 billion US dollars, ranking second in the nation, next only to Guangdong Province. The amount was 17.8 percent more than the year-earlier level, the sources said.

Source: Xinhua