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China Leads Developing World in Using Foreign Investment for 8 Years
China has led the developing world in using foreign investment for eight years running, a senior Chinese trade official said Tuesday in Xi'an.
By the end of July, China had opened 378,000 foreign-funded enterprises which involved a combined contractual value of 700 billion U.S. dollars, ranking first among developing countries, said Sun Zhenyu, vice-minister of Foreign Trade and Economic Cooperation (MOFTEC), at the reinvestment fair of foreign-funded enterprises which opened today in Xi'an, the capital of northwest China's Shaanxi Province.
China is experiencing a fast growth period in terms of foreign investment. The country approved 14,000 foreign-funded enterprises in the first seven months of this year, up nearly 20 percent over last year's same period, involving contractual value of more than 40 billion U.S. dollars, up 50 percent year-on-year, Sun said.
At present, the majority of foreign-funded enterprises are performing well. The added industrial value of these enterprises came to 300 billion yuan during the first half of the year.
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