Overseas Investment in China Soars

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 ◆ Overseas Investment in China Soars

The first four months of 2002 saw a year-on-year rise of 29.06 percent in the overseas funds used in China, according to statistics released by the Ministry of Foreign Trade and Economic Cooperation (MOFTEC) here recently.

Figures showed that the overseas investment already in use totaled 14.14 billion US dollars during the first quarter, while the contractual overseas investment registered a growth of 5.1 percent at 21.28 billion US dollars.

The setting up of 8,920 overseas-funded enterprises has been approved in the period, an increase of 20.01 percent.

By the end of April 2002, China had approved 388,945 overseas-funded enterprises. The contractual investment totaled 766.57 billion US dollars, of which 409.36 billion US dollars has already been put to use.