Industrial Production News
- China approves establishment of 610,000 foreign-funded enterprises
Date: 12-Sep-2007 Sources: (People's Daily)
From the opening up more than two decades ago until last July, China had approved the establishment of more than 610,000 foreign-funded enterprises and used 720 billion US dollars of foreign capital, according to Pan Biling, deputy director of the Department of Foreign Investment Administration in the Ministry of Commerce. He made the announcement at the 11th China International Fair for Investment and Trade on September 9.
According to statistics from the United Nations Conference on Trade and Development, China has ranked first, for more than a decade, among developing countries in foreign fund attraction; and was the world's fourth in 2006. Currently, more than 480 of world top 500 enterprises have established companies in China, the country also home to nearly 1000 R&D centers and regional headquarters of nearly 40 transnational corporations.
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