Xiamen's actual use of foreign capital reaches 7.34 billion yuan ($1.07 billion) in the first half of this year, surging 24.8 percent year-on-year. [Photo/VCG]

In the first half of 2019, Xiamen in Fujian province set up 624 new foreign-funded enterprises, with the actual use of foreign capital reached 7.34 billion yuan ($1.07 billion), surging 24.8 percent year-on-year, according to Xiamen bureau of commerce.

The figure accounts for 41.9 percent of Fujian's total, 7 percentage points higher than the same period last year.

Meanwhile, Xiamen's contractual foreign investment reached 14.84 billion yuan, which accomplished 80.3 percent of the annual plan of 18.48 billion yuan.

In June, 165 foreign-funded enterprises were established in Xiamen, up 51.4 percent year-on-year, and the actual use of foreign capital reached 1.32 billion yuan, with a year-on-year growth of 138.7 percent.

Xiamen has made great efforts in attracting foreign businesses and investment. The city has established an all-round working mechanism for attracting investment and issued a series of incentive policies to expand investment channels.

A spokesman for Xiamen commerce bureau said that it will continue to promote the introduction of major projects in a bid to support the city's high-quality development.