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The
GDP of Xiamen in 1998 is 42.011 billion RMB, attaching a
increase rate of 16.2% (the national average rate is 7.8%).
The total industry output is 59.45 billion RMB, with an
increase rate of 18.7%. With electron, machinery, chemicals
and petro-chemicals, pharmaceutical and building materials
as the pillar industries, it provides many competitive
products of international advanced level. Xiamen has a close
economic communication with Taiwan. The total export volume
to Taiwan increased by 27% in 1998. Xiamen is also
recognized as a most attractive city for foreign investors.
Up to June, 1999, 4627 contracts of direct foreign
investment projects has been approved with contracted
foreign investment of US$16 billion. There are 4055
foreign-funded enterprises are now in operation, attaching a
total investment of US$19.1 billion. 24 of the top thousand
companies have set factories in Xiamen, such as Beoyin,
Kodak, Dell, Linde, Philip, Panasonic, GE, Swire, ABB etc,
with a total investment of US$2 billion, dealing with
electron, wiring, machinery, airplane maintenance. Xiamen
will mend its pace on developing science and technology,
rationalizing the industry structure, and to put great
effort on developing information industry and bioengineering
in 1999 and to accelerate the procedure of utilization of
new science and technology research result in production.
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