In the first quarter of this year, China's non-financial foreign direct investment (FDI) reached US$4.27 billion, up by 22.7 percent more than in the same period of last year, and completed a foreign project contracting turnover of US$7.41 billion, up 23.9 percent.

Chen Jian, assistant minister of China's Ministry of Commerce, said, at the news conference of the 11th China Fair for Investment and Trade, that the Chinese government has vigorously promoted the development of various foreign economic collaborations, and has actively guided and encouraged enterprises to "go abroad." By the end of 2006, China's total foreign direct investment had hit US$73.33 billion; achieved a total foreign project contracting turnover of US$165.8 billion; and completed a total foreign labor service collaboration turnover of US$41 billion

According to the Ministry of Commerce's "11th Five-Year Plan," China's total foreign direct investment expects to exceed US$60 billion within the four years, between 2006 and 2010.

By People's Daily Online