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China's foreign capital absorption sets record high in 2011

By Li Zhenyu (People's Daily Online)

14:51, March 14, 2012

Beijing, March 14 -- Facing the outside world's recent doubts on China's investment environment, Ma Xiuhong, a member of the national committee of the Chinese People's Political Consultative Conference (CPPCC), said during China's annual "two sessions" that the nation's investment environment is improving and China should further bring the foreign capital's positive functions into effect.

"China's investment environment is generally improving," the former Vice Minister of Commerce of China Ma told People's Daily Online. "The scale of the foreign capital absorbed by China is also quite large."

According to Ma, by the end of 2011, there have been an estimated 730,000 plus foreign enterprises established in China, including 27,000 newly-established ones in 2011. Meanwhile, the total amount of the foreign capital actually used by China in 2011 was more than 116 billion U.S. dollars, up 10 percent compared to that of 2010.

"In an overall environment where the growth rate of the global cross-border investment is low, the percentage of 10 percent is a relatively large number," Ma said. "The foreign investment amount of 116 billion U.S. dollars is also quite large and sets a record high in China's history of absorbing foreign capital. The number of 27,000 enterprises is not small too."

While strengthening the achievements already made by China, how should China further improve its investment environment and further bring the foreign capital's positive functions of promoting the technological progress, industrial upgrading and regional coordinated development into effect? Regarding this question, Ma gives four suggestions:

First, China should strengthen its reform and promote the facilitation of trade and investment according to new circumstances and situations.

Second, China should further practically implement the No. 9 document of the State Council, which is the "Several Opinions of the State Council on Further Utilizing Foreign Capital" issued in April of 2010.

Third, China should further orient proper foreign investment.

Fourth, China should further strengthen its reforms, especially the reform on its administrative system.

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