China's actual use of foreign funds drops 3.18 percent in first six months

China's actual use of foreign funds came to 28.56 billion US dollars in the first half of this year, down 3.18 percent from the same period of 2004, according to the latest statistics published Wednesday by the Ministry of Commerce.

The statistics also showed that during the January-June period, a total of 21,212 foreign-funded enterprises were established in China, a year-on-year drop of 1.79 percent.

On Tuesday, Chen Jian, assistant minister of commerce, told a press conference that China is not worried about the declining actual use of foreign funds.

He attributed the decline to many factors and denied that the country's tightening macro-control and credit policies have had a direct effect on attracting foreign investment over the past two months.

He pledged that China would continue to improve the investment environment and maintain its current favorable policies towards foreign investment in a bid to attract foreign funds.

Source: Xinhua