China Becomes World's Second Largest Foreign Funds RecipientChina now ranks second in the world in terms of absorbing foreign funds, according the first China Non-State Enterprises Fair which opened in Kunming Friday, December 8.Statistics show that by the end of May, more than 180 countries and regions worldwide had invested in 349,500 ventures in China, involving a total contractual foreign investment of US$632.3 billion. The used amount of foreign investment has reached US$320.6 billion. At present, 400 of the world's top 500 industrial enterprises have invested in China. Of the total foreign investment, 65.4 percent are in the industrial sector, and 32.9 percent in the tertiary industry. The first foreign-invested enterprise in China was set up in 1980. Foreign-funded enterprises are the outcome of China's opening up to the outside world. China has sped up its opening up since 1990. The areas in which foreign funds are allowed have expanded from the former processing industry, to insurance, telecommunications, commerce and other service fields, and high-tech industries. |
| People's Daily Online --- http://english.peopledaily.com.cn/ |