China sees sharp increase in number of new foreign firms

BEIJING, July 19 (Xinhua) -- China saw a rapid increase of newly established foreign-invested enterprises in the first half of the year, an official with the Ministry of Commerce said Wednesday.

Some 24,000 new foreign firms established themselves in China in the first half of the year, marking a 35.7 percent rise year on year, Guo Tingting, vice commerce minister, told a press conference.

Foreign investment was basically stable in the country during the period, Guo said.

Foreign direct investment in the Chinese mainland, in actual use, dipped 2.7 percent year on year to 703.65 billion yuan (about 98.46 billion U.S. dollars) in the first half.