Investment Updates News
- Australia's FDI from Chinas mainland, HK up 196 pct over past 5 years
Date: 7-Sep-2007 Sources: (People's Daily)
Foreign Direct Investment (FDI) from China's mainland and Hong Kong to Australia has increased 196 percent over the past five years, an Australian government agency said Thursday.
In 2006, FDI from China's mainland and Hong Kong accounted for 4 percent of the total stock of all FDI in Australia from the Asia- Pacific Economic Cooperation (APEC) member economies, Invest Australia, the Australian government's inward investment agency, said in a press release here.
The United States is Australia's major source of investment from APEC, with a 57 percent share last year, followed by Japan ( 18 percent) and New Zealand (6 percent).
Australia's total FDI from APEC economies jumped by 7.3 percent during 2006 to reach 130 billion Australian dollars (106.6 billion U.S. dollars), representing the ever-strengthening links between Australia and the rest of Asia-Pacific region, the release said.
Invest Australia CEO Barry Jones said that foreign investment plays an important role in Australia's economic success and that the country is very welcoming of investment from overseas.
Australia's outward FDI to China's mainland and Hong Kong also took up 4 percent of the country's total outward FDI within APEC in 2006, according to the release.
The United States was the principal destination for Australia's outward FDI within APEC, accounting for 60 percent of Australia's FDI stock to APEC members, followed by New Zealand (21 percent), Singapore (2.3 percent), and Papua New Guinea (1.4 percent).
APEC is the premier forum for facilitating economic growth, cooperation, trade and investment in the Asia-Pacific region.
Founded in 1989, it represents the most economically dynamic region in the world, with its 21 member economies spanning four continents and accounting for approximately 40 percent of the world's population, 56 percent of world GDP and 48 percent of world trade.
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