China Reports Soaring Overseas Investment

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Last updated at: (Beijing Time) Thursday, June 13, 2002

China Reports Soaring Overseas Investment

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China used overseas funds of 16.92billion U.S. dollars in the first five months of this year, up 12.38 percent on a year-on-year basis, according to latest figures from the Ministry of Foreign Trade and Economic Cooperation.

Figures released on Wednesday show that during the period, the government approved 11,612 foreign-funded companies, up 23.26 percent from the same period last year. The contractual foreign investment totaled 27.86 billion U.S. dollars, registering a 7.29-percent growth.

China now has 401,637 foreign-funded companies, backed up by contractual foreign investment of 773.16 billion U.S. dollars, of which 412.15 billion U.S. dollars has already been put to use.

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