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Number of foreign companies quitting Chinese market hits 3 year high |
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15:24, July 31, 2009 |
Less investment in real estate slashes FDI
Number of China's domestic-funded enterprises continues to grow in H1
In the first half of 2009, the number of foreign-funded enterprises in China dropped by 1.18 percent from the end of last year. The number of foreign-funded enterprises canceling their registration increased significantly, hitting the highest level compared to the same period since 2006.
In the first half of 2009, 8,496 foreign-funded enterprises (excluding branches) newly registered in China, a drop of 35.34 percent year on year. In total, they invested 61.16 billion USD, registered 39.58 billion USD capital, and paid 34.33 billion USD registered capital, a drop of 35.43 percent, 38.05 percent and 38.89 percent year on year respectively.
The rate of decline narrowed by nearly 10 percentage points compared to the first quarter of 2009. The year-on-year decrease in foreign direct investment slowed slightly.
The number of foreign-funded enterprises which cancelled their registration increased significantly. In the first half of 2009, a total of 11,588 foreign-funded enterprises across China cancelled their registration, up 95.28 percent year-on-year, hitting the highest level for the same period since 2006. This indicates that the impact of the international financial crisis is still spreading.
The industrial distribution of foreign capital shows that China is further optimizing its foreign capital utilization structure. In the first half of 2009, the amount of foreign direct investment in primary industry slightly increased year-on-year. Judging from the number of new enterprises in primary, secondary and tertiary industries, foreign direct investment has developed faster in the tertiary industry than in the secondary industry.
By People's Daily Online
http://paper.people.com.cn/rmrb/html/2009-07/31/content_309637.htm
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