BEIJING, June 29 (Xinhuanet) -- The Ministry of Commerce has revealed earlier that China's foreign direct investment is expected to reach 150-billion Dollars by 2015.
Chen Run-yun is a counselor with the ministry.
"During the 'Eleventh Five-Year' period, the growth rate of China's foreign direct investment reached as 8 times the high as that of the previous period, and the average annual growth rate recorded 34 percent, which was far above the global average."
China currently has set up 16 economic and trade zones in 13 countries worldwide, generating an output value of some 10billion USD annually.
In the latest case, the country's largest meat processor Shuanghui International managed to buy U.S pork icon Smithfield for about US$4.7 billion early in May.
Meanwhile, Chen Runyun has also refuted criticism that the large number of investment made by Chinese companies is a new form of colonialism.
"Last year, China's foreign investment ranked the sixth in the world, and there was still a big gap compared with developed countries. If you call China's investment 'colonialism', what about those countries? "
Chen adds that the Chinese government has always urged companies to promote common development while making foreign investment.
Graduation ceremony held in Zhejiang University
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