FDI in China Soars in First Five Months: Ministry

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Last updated at: (Beijing Time) Friday, June 13, 2003

FDI in China Soars in First Five Months: Ministry

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Foreign direct investment (FDI) in China soared by 48.15 percent year-on-year to 23.271 billion US dollars in the first five months this year, according to the latest statistics from the Ministry of Commerce (MOC).

MOC figures show that contractual FDI for the period hit 38.223 billion US dollars, up 42.22 percent year-on-year.

China approved the registration of 15,175 foreign and overseas-financed enterprises in the first five months, up 29.02 percent year-on-year. Of these, 2,977 were approved in May, up 11.41 percent.

In May, contractual FDI in China increased by 17.62 percent to 7.695 billion US dollars, and actually used FDI climbed by 39.47 percent to 5.449 billion US dollars, MOC figures show.

A total of 439,371 foreign and overseas-financed enterprises have been set up since China adopted its policy of reform and opening-up over 20 years ago.

Aggregate contractual FDI of 866.283 billion US dollars and 471.237 billion US dollars FDI have been actually used, MOC figures show.

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