Economic Trend News
- Nation to attract $63b FDI
Date: 4-Jan-2007 Sources: (Shenzhen Daily)
CHINA expects to attract about US$63.81 billion in actual foreign direct investment (FDI) in 2007, the Beijing News reported yesterday.
The paper cited a report by the Chinese Academy of Social Sciences (CASS), a top government think tank, as forecasting the figure would represent annual growth of about 4 percent compared with 2006, which would mean FDI of about US$61.36 billion last year.
The China Securities Journal quoted the Ministry of Commerce as saying that China was expected to attract US$60.3 billion in FDI in 2006, unchanged from 2005.
State television has said the country would draw more than US$72.4 billion in FDI in 2006, without giving any source.
The Beijing News also cited the CASS report as saying China needed to restrict the inflow of speculative foreign capital and draft rules concerning foreign mergers and acquisitions in the world's fourth-largest economy.
The commerce ministry said China's FDI in the first 11 months of 2006 stood at US$54.26 billion, up 2.14 percent from a year earlier. That figure does not include foreign direct investments in the financial sector.
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