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Britain Increases Investment in China
British investment in China has seen a sharp rise in the first five months of the year, a senior official from the Ministry of Foreign Trade and Economic Cooperation (MOFTEC) said Thursday.
In the first five months of the year, another 91 British-funded enterprises were established in China investing 510 million U.S. dollars, up 7.6 percent and 39.58 percent over the same period last year, said Ma Xiuhong, MOFTEC minister assistant at the 2000 Seminar on Sino-British Investment which concluded Thusday.
Britain ranks first among European Union countries and eighth among all 180 countries that invest in China.
According to official statistics, by May, more than 2,600 British-funded enterprises with an investment of 8.9 billion U.S. dollars have been set up in China.
British investment has contributed to development of bilateral trade, Ma said.
In 1999, the Sino-British trade volume totaled 7.87 billion U.S. dollars. British exports amounted to 2.99 billion U.S. dollars and Chinese exports 4.88 billion U.S. dollars, up over 50 percent and 20 percent over the previous year.
In the first four months of the year, Sino-British trade volume amounted to 2.87 billion U.S. dollars, up 43 per cent over the same period in 1999, Ma said.
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