Investment Updates News
- Cumulative FDI in China exceeds 750 billion U.S. dollars
Date: 28-Aug-2007 Sources: (People's Daily)
China's actual use of foreign direct investment (FDI) had cumulatively exceeded 750 billion U.S. dollars by the end of June this year since the beginning of its opening-up policy in 1978, according to a senior commerce official.
Vice Minister of Commerce Wei Jianguo said the country had approved the establishment of 610,000 foreign-funded enterprises by the end of June this year.
In the first half of 2007, exports of foreign-funded enterprises accounted for 57 percent of the nation's total, said Wei at a forum on the social responsibility of foreign-funded enterprises.
Currently, more than 28 million people work in these enterprises, or about 10 percent of the employed population in cities and towns of the country.
China actually used 36.93 billion U.S. dollars in FDI in the first seven months of 2007, a growth of 12.92 percent year-on-year, according to the Ministry of Commerce.
Wei said China will unswervingly push forward opening-up and reform and continue to attract foreign investment in an active and effective way.
China will strive to improve the quality and level of foreign investment, with efforts to adjust industrial structure and guide foreign investment to its relatively underdeveloped central and western regions, according to Wei.
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