Overseas Investment to China Reaches US$52.7 Billion

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Last updated at: (Beijing Time) Wednesday, January 15, 2003

Overseas Investment to China Reaches US$52.7 Billion

Overseas investment to China reached 52.743 billion US dollars in 2002, up 12.51 percent from ayear ago, the Ministry of Foreign Trade and Economic Cooperation (MOFTEC) announced Tuesday.

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Overseas investment to China reached 52.743 billion US dollars in 2002, up 12.51 percent from ayear ago, the Ministry of Foreign Trade and Economic Cooperation (MOFTEC) announced Tuesday.

The number of newly-approved overseas-invested ventures was 34,171, up 30.72 percent, and contractual volume of overseas investment reached 82.768 billion US dollars, up 19.62 percent.

Analysts here said the surge of overseas investment to China was mainly a result of its fast-growing national economy and the impact of its entry into the World Trade Organization.

China's huge market potential is being unleashed, its infrastructure and policy environment have greatly improved, and its relative advantage in labor and resources is gaining world attention, some analysts said.

So far, there are more than 420,000 overseas-invested ventures in China, with contractual overseas investment of 828.06 billion US dollars. Materialized overseas investment reached 447.966 billion US dollars.

MOFTEC Minister Shi Guangsheng predicted recently that overseas investment to China may grow even higher this year as China has the most ideal market, labor force and environment in the world.

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