Overseas capital contributes little to real estate in Beijin

Overseas funds contributed 5.6 percent to the total capital inflow in the 344 overseas-funded real estate companies in Beijing in 2006, according to a report from the Beijing Bureau of Statistics.

These firms, 204 of which were registered in Hong Kong, Macao and Taiwan, saw an overall influx of 68.75 billion yuan (8.8 billion U.S. dollars) last year, including overseas capital of 3.13 billion yuan.

The primary capital source was deposits for earnest-paid orders and bank loans, which accounted for 42.3 percent and 19.9 percent respectively of last year's total capital inflow.

The 344 firms built projects worth 26.7 billion yuan last year, which was 15.5 percent of the total investment in the capital city's real estate sector.

Meanwhile, they reported profits of 4.99 billion yuan on the basis of 32.33 billion yuan of business volume.