Learn Chinese - FDI in China totals over $750b

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FDI in China totals over $750b
[ 2007-08-28 13:16 ]

China's actual use of foreign direct investment (FDI) had cumulatively
exceeded US$750 billion by the end of June this year since the beginning
of its opening-up policy in 1978, according to a senior commerce official.

Vice Minister of Commerce Wei Jianguo said the country had approved the
establishment of 610,000 foreign-funded enterprises by the end of June
this year.

In the first half of 2007, exports of foreign-funded enterprises
accounted for 57 percent of the nation's total, said Wei at a forum on
the social responsibility of foreign-funded enterprises.

Currently, more than 28 million people work in these enterprises, or
about 10 percent of the employed population in cities and towns of the
country.

China actually used US$36.93 billion in FDI in the first seven months of
2007, a growth of 12.92 percent year-on-year, according to the Ministry
of Commerce.

Wei said China will unswervingly push forward opening-up and reform and
continue to attract foreign investment in an active and effective way.

China will strive to improve the quality and level of foreign investment,
with efforts to adjust industrial structure and guide foreign investment
to its relatively underdeveloped central and western regions, according
to Wei.

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