Overseas Investment in China Soars

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Last updated at: (Beijing Time) Saturday, September 14, 2002

Overseas Investment in China Soars

Overseas funds invested in China in the first eight months of 2002 rose markedly by 25.52 percent year-on-year to 34.44 billion US dollars, official figures show.

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Overseas funds invested in China in the first eight months of 2002 rose markedly by 25.52 percent year-on-year to 34.44 billion US dollars, official figures show.

According to the Ministry of Foreign Trade and Economic Cooperation (MOFTEC), during the January-August period, 21,470 newoverseas-funded enterprises were approved, up 31.36 percent. Contractual foreign investment topped 62.307 billion US dollars, up 42.42 percent.

China approved a total of 2,944 overseas-funded ventures in August, involving contracts worth 7.953 billion US dollars, of which 4.901 billion US dollars were put to use.

By the end of August 2002, China had approved a total of 411,495 overseas-funded ventures, with contracts worth 807.598 billionUS dollars and actual investment of 429.665 billion US dollars.

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