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Over US$5 Billion Foreign Investment Utilized in Auto Industry
China's auto industry has become one of the most attractive industries to foreign investors after 20 years' development and the contracted foreign capital in this industry has surpassed US$5 billion.
According to news resource close to the Machine-Building Industry Bureau, the auto industry in China has established over 600 joint ventures with foreign investors from more than 20 countries and regions since it first utilized foreign capital in 1981.
By the end of 1998, the total foreign investment ran to US$20.9 billion, of the total, US$10.5 billion was registered capital, representing 50.5 percent of the total investment; contracted foreign capital neared US$5.29 billion, accounting for 49.96 percent of the registered.
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