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UN Economist Sees Stable FDI in China
China remains a "dominant force" in the developing world to attract foreign direct investment (FDI), a senior UN economist said in New York Tuesday.
"All companies in the world see China as a huge market already, some categories of income groups there are rapidly developing significant purchasing power, and so many firms are going there for a long-run presence," said Georg Kell, senior officer of the Executive Office of the UN Secretary-General.
Kell made the remarks at the UN headquarters here to release the 2000 world investment report compiled by the UN Conference on Trade and Development (UNCTAD).
According to Kell, China received some 40 billion US dollars in FDI in 1999, almost half of the FDI into Asia. The UN expects the figure for 2000 to be as high as in 1999, if not higher, he added.
The debate within the World Trade Organization (WTO) over China's membership "will solidify the perception about China's integration into the world economy," Kell said.
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