During the first two months of 2014, ten private enterprises in East China's Anhui province got the approval to invest in foreign countries, accounting for 71.4 percent of the provincial total, said the Department of Commerce of Anhui.
Under their investment agreements, they will pour a combined $132 million into overseas programs. The fund makes up 93.5 percent of the province's total overseas investments, statistics from the department showed.
Such rapid expansion of global presence is largely attributed to the local government's adequate support. In addition to streamlining the approval procedure for privately-run companies going global, the government offers them financial and tax incentives to encourage overseas investment.
Between January and February, 14 Anhui-based investors made their first foray into foreign markets, representing a year-on-year rise of 130 percent.
This year is seeing a rise in the number of companies investing in American projects. In the Jan-Feb period, seven out of the 14 corporations made investment in the United States, up 6 folds from a year earlier.
ChinaDaily
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