China: Developing Country Attracting Most Foreign InvestmentSince 1993, China has headed the list of developing countries in absorbing the most direct foreign investment for seven straight years.Up to last July, China had approved 353,000 foreign-invested enterprises, with the value of contracted foreign capital standing at US$641.7 billion and actually used foreign funds US$327.7 billion. In the same period, China brought about a restorative growth in the number of newly established foreign-invested enterprises and the amount of contracted foreign capital it approved. Meanwhile, China's export and import also rose sharply. The amount of export and import totaled US$ 257.6 billion, 36.3 percent rise compared to the same period last year, of which export growth was 35.8 percent and import,36.8 percent respectively. The aggregate value of trade surplus reached US$14.34 billion. The achievement of China's economic development is closely related to its consistent policy of opening to the outside world and its stress on strengthening economic and trade cooperation with various countries and regions around the world. In the new century, the Chinese government will, as always, open wider to the outside world, push forward reforms in all fields and create more favorable conditions for encouraging investment cooperation. In the face of the new situation featuring world sci-tech advancement and accelerated development of economic globalization, China will make strategic readjustment to its economic structure, conduct in-depth reform of its economic system, and all-roundly expand its opening to the outside world. Both Chinese and foreign investors should pay close attention to the new growth points of China's economic development, from which to find new opportunities for development. |
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