Business
UPDATED: 09:50, August 20, 2004
Contracted foreign investment tops $1 trillion in China
According to the latest statistics China has approved the setting up of a total of 490,494 companies with foreign investment. Contracted foreign investment totals $1,026.207 billion and foreign investment in actual use totals $540.292 billion.
>From January to July China approved 25,217 companies with foreign investment
with contracted foreign investment of $82.656 billion and foreign investment
in actual use of $38.403 billion, which increased 13.36 percent, 39.69
percent and 15.14 percent respectively.
As learned from the Department of Foreign Investment Administration of the MOFCOM (Ministry of Commerce) foreign direct investment that China attracted this year has grown appropriately and its structure has been further optimized. Foreign investment in hi-tech fields kept a large increase. The number of R&D centers and regional headquarters increased rapidly. Foreign investment that electricity industry attracted increased drastically.
Investment that service and trade fields invited grew steadily and foreign investment in actual use in steel, electrolytic aluminum, cement and real estate industries has been effectively kept within limits. Investment from main investment source countries and regions such as the US, Europe and Japan grew comprehensively. Old industrial bases in the northeast have become hot areas for foreign investment. The operation of the currently registered 230,000 companies with foreign investment is on the whole sound.
By People's Daily Online
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