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People's Daily Online>>China Business

Ministry: US capital not fleeing China

(People's Daily)

16:56, November 17, 2011

Edited and translated by Yaochun, People's Daily Online

Beijing, Nov.17 (People's Daily Online) --A spokeswoman for China's Ministry of Commerce addressed concerns regarding the decline of U.S. investment in China, saying that it was mainly reflective of the deteriorating economic situation in the United States and has no bearing on China's investment environment.

According to statistics released by the Chinese Ministry of Commerce, foreign investors have set up 22,400 enterprises, which is a year-on-year increase of 5.6 percent. The amount of foreign capital actually utilized was roughly 95 billion dollars, with a year-on-year increase of 15.86 percent. In October China actually utilized 8.3 billion dollars, increasing 8.75 percent year on year.

Asian countries' investment in China continued to grow substantially. Investment from the European Union increased slightly. From January to Oct. 27, countries of the European Union actually invested 5.5 billion dollars, marking a year-on-year increase of 1 percent. However, the United States actually invested nearly 2.6 million dollars, which is a year-on-year decline of 18.1 percent, but up about 9 percentage points compared to the last nine months.

The ministry spokeswoman said: "The decrease of U.S. investment in China has a great relationship with actual world economic situation, especially the situation of the U.S. economy. The flagging economy of the United States has affected its foreign investment. But there has not been a mass exodus of American enterprises from China, and the so-called 'back-flowing tide' has not occurred. China is still one of the most attractive Eastern countries for investments from all over the world."

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