The department of commerce of China's Hebei Province has announced that in the first half of the current year foreign investments by Hebei-based companies (including Chinese companies, joint ventures between Chinese companies and foreign companies, and Hebei-based foreign companies) totaled $1.098 billion, up 193.89 percent compared to the same period last year. The foreign investments by Hebei-based Chinese companies in the given period indicated a 29.73 percent year-on-year increase to $459 million.
The Hebei department of commerce also stated that Chinese steel producer Hebei Iron and Steel Group's acquisition of a stake in Alderon Resources Corporation's Kami iron ore project has been completed, while Hebei-based Kailuan Energy Chemical Co., which is principally engaged in mining, washing, processing and distribution of coal, has completed its funding for the development of the Geihsen coal mine in British Columbia, Canada.