Foreign Direct Investment in China up nearly 5% in Jan-Feb

10:49, March 16, 2010      

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In the first two months of 2010, China's Foreign Direct Investment (FDI) increased nearly 5 percent from the previous year to more than 14 billion U.S. dollars, said China's Ministry of Commerce (MOFCOM) March 15.

China's robust growth and expanding domestic market make it an attractive investment destination, analysts said.

In February alone, China attracted about 5.9 billion U.S. dollars in FDI, 1.1 percent higher compared with the same period last year. FDI has grown for seven straight months since last August.

Although FDI into China has picked up its upward trend again, multinational companies' willingness and ability to invest has not seen an essential recovery, Commerce Minister Chen Deming said recently.

"China will expand foreign-funded companies' financing channels, and bolster credit support for them," Chen said.

China will make institutional arrangements to turn the country into a "fair playing ground" for foreign investors and grant foreign enterprises "national treatment," said Premier Wen Jiabao during a press conference after the closing meeting of the Third Session of the 11th National People's Congress (NPC).

Due to the global financial crisis, FDI into China dipped 2.6 percent to around 90 billion U.S. dollars, during all of 2009. With the rebound of China's economy, China's FDI has experienced a V-shaped recovery and seen considerable growth in the second half of 2009.

"For multinational companies, China is the place where growth is the most robust," said Isaac Meng, a senior economist at BNP Paribas SA in Beijing.

By People's Daily Online
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