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A Robust Investment Destination: Foreign investors' confidence in China is on full display (2)

By Zhou Xiaoyan (Beijing Review)

09:11, September 19, 2012

Still a hotspot

Amid a sluggish global economic recovery, foreign direct investment (FDI) to developing countries has increased to a record high of 11 percent in 2011, according to the World Investment Report 2012 released in July by the United Nations Conference on Trade and Development (UNCTAD). The report also predicts that FDI inflow to developing countries will enjoy a substantial increase in the upcoming three years.

"It's a trend to see an increasing flow of global FDI into developing nations, which have become a new driving force in spurring the growth of the global market," said Gao Hucheng, Vice Minister of Commerce, at the forum.

China, the world's largest developing country, is still a hotspot of global investment. FDI in China reached a historic high of $124 billion in 2011, ranking second in the world after the United States, according to the report.

China is the most favorable investment destination of multinationals, according to a survey conducted by UNCTAD. Multinationals choose to invest in China because they want to be closer to its immense market.

In 2003, less than 23 percent of U.S. companies sold their products in the Chinese market while a majority of them utilized the cheap labor and energy in China to produce exported products. In 2012, the figures have reversed. Over 71 percent of U.S. companies are offering products and business services to the Chinese market that are not for export, according to a survey conducted by the AmCham South China.

Air Products and Chemicals Inc., an AmCham South China member and a Fortune 500 company, signed a contract at the 16th CIFIT to invest $300 million in Jiangyin Chemical Park in Fuqing of Fujian and $400 million in Zhangzhou, another city in the province. This is an addition to a $300-million investment deal in Shaanxi Province signed by Air Products in June.

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