More Investment Flows to China's Most Populous Henan Province

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 ◆ More Investment Flows to China's Most Populous Henan Province

As China steadfastly pushes forward its "Develop the West" program, central China's Henan Province is gaining more attention from overseas investors.

More than 2,100 overseas investors attended the Henan Economic and Trade Fair, held recently in the provincial capital of Zhengzhou. The fair witnessed the signing of contracts for 134 overseas investment projects, which involve a total of 828 million U.S. dollars of overseas investment.

The scale of participation far exceeded the expectation of local officials. "Based on our past experience, we anticipated only 1,500 overseas businessmen at the fair," said Hou Guofu, director of the provincial foreign trade and economic cooperation department.

He attributed the impressive turnout to shifting attitudes among foreign investors. "They are beginning to realize the importance of this province, which in old times was called a strategic place."

He said because of its location, Henan served as a link between China's west and its east. "This has made Henan a center for goods,personnel and information gathering and distribution. As the old saying goes, starting from Henan you can exert influence to every corner of the country," said Hou.

Besides good location, Henan also enjoyed many other advantages."It is China's most populous province with a population of 95 million, which provides plenty of workers and constitutes a vast consumer market. Furthermore, the region is rich in natural resources and has laid a solid foundation for economic growth," he said.

Official statistics show Henan chalked up more than 560 billion yuan (around 67.47 billion U.S. dollars) in GDP in 2001, ranking fifth among the Chinese provinces, autonomous regions and municipalities directly under the central government.

A number of renowned transnational companies have made investments in Henan. Many of them, including DuPont, are considering investing more.