Investment Performance News
- FDI hits US$63 billion, up 5 percent
Date: 16-Jan-2007 Sources: (Shenzhen Daily)
CHINA drew a record US$63 billion in foreign direct investment (FDI) in 2006, up 5 percent from 2005, the Xinhua news agency cited Commerce Minister Bo Xilai as saying yesterday.
It gave no figure for December alone, but China reported cumulative FDI of US$54.26 billion in the first 11 months, pointing to December FDI of around US$8.74 billion.
In all of 2005 China drew US$60.33 billion in FDI, down slightly from the previous record of US$60.6 billion in 2004.
Xinhua did not explain how it had arrived at the percentage growth figure for 2006. The US$63 billion figure it reported is 4.43 percent greater than the US$60.3 billion reported for 2005.
The figures cited by the Commerce Ministry do not include investments by foreigners in the financial sector.
According to other Chinese media yesterday, when the investments in the financial sector such as in the banking, insurance and stocks are added, the total investment by foreigners last year reached US$72.406 billion, a surge of 19.42 percent compared with the previous year.
Xinhua also cited Bo as saying that investment overseas by Chinese firms rose 32 percent from a year earlier in 2006, to US$16.1 billion.
The Chinese Government, intent to stimulate capital outflows to ease the upward pressure on the yuan, has been encouraging its companies to invest abroad to secure resources, build brands and win market share.
Such outbound investments more than doubled in 2005 to US$12.3 billion.
Sponsor Results:
