China Approves 5,300 Foreign Enterprises in 1st QuarterThe first quarter of this year saw an optimistic tendency of utilizing foreign capital as China had approved the establishment of 5,300 foreign invested enterprises in the three months. It has drawn US$16 billion contracted foreign capital with US$8 billion in actual use, a rise by 44 percent and 11 percent respectively over the same period of last year.As released by Ma Xiuhong, Assistant Minister of the Foreign Trade and Economic Cooperation, the favorable trend of utilization of foreign capital indicates the strong confidence of foreign merchants in China's investment environment. The first quarter saw an investment in China from the North America, Asia and other regions maintain a huge growth. The contracted capital and employed capital from the United States increased respectively by 46.7 percent and 35.6 percent, and from Japan by 12.3 percent and 18.32 percent. Up to last March, China had an accumulated establishment of 369,700 foreign invested ventures which drew a contracted capital totaling US$692.711 billion with US$356.602 billion involved in the actually implemented contracts. By PD Online Staff Deng Gang |
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