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In recent years, Hangzhou has accelerated the speed of attracting foreign investment to Hangzhou, has strengthened the integrated competitive force; carried out the "three foreign" (foreign trade, foreign economy, foreign investment ) and "four areas" ( four State-level development areas) combined strategy; formed multi-level, various channels all-aspects opening-up structure; has promoted the continued healthy development of economy.

Hangzhou is one of the important windows of China open to the outside world. The steps of opening-up has been quickened since Hangzhou was listed as one of the open coastal economic areas in 1998. Hangzhou has established direct trade relations with 121 countries and regions in the world. The export value of commodities supplies was 33.241 billion yuan in 1997, self-operated export is 1453 million yuan. The export ratio of electromechanical products is 37.8% of the total export commodities. Because the levels and scales of direct foreign relations have been enhanced. By the end of 1997, there had been already 61 countries and regions coming to invest in Hangzhou, 3438 foreign-invest projects got approved with a total investment of US$ 8780 million. The agreement foreign investment value is US$5075million, actual utilized foreign investment value is US$ 2327 million, among which 235 are projects with single investment above US$10 million. The US General Motors Company, Merck , Motorola, German Bosch, Siemens Company, French Liquid-Air, Sanofi, Japanese Panasonic Company, Toshiba Company, etc, which are among 500 world largest companies have invested and established enterprises in Hangzhou. The foreign investments have entered into various aspects of trades such as agriculture, industry, traffic, energy, real estate development, tourism and commercial and beverage trade, city infrastructure, etc. Now more than 1500 foreign invested enterprises have started operation with the actual sales revenue of 1997 reaching 31.6 billion yuan. Foreign-invested enterprises have become the new economy growth point of Hangzhou .

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