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Tongling: Biggest Outbound Investor in Q1

Pub Date: 13-05-02 16:43 Source: www.cnanhui.org

Tongling's foreign direct investment (FDI) totaled $103 million yuan in the first quarter (Q1) of 2013, up 25.4 percent from a year earlier, while its outward direct investment (ODI) skyrocketed 87.2 percent year-on-year to $91.3 million, the municipal administration of commerce said.

The city ranked first among 16 prefecture-level cities in East China's Anhui province in terms of the Jan-Mar period's ODI.

During the period, the city got the green light to set up two companies abroad, one of which, jointly established by Tongling Nonferrous Metals Group Co.and China Railway Construction Co., agreed to pour up to $1.7 billion into a copper mining project in Ecuador. Such investment is seen as the largest ever of its kind by Anhui-based investors, according to the bureau.

 

(By Zheng Weiling)

Editor: Rita

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