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China forming two-way opening-up pattern
www.chinanews.cn 2005-09-29 14:37:03
Chinanews, Beijing, Sept.28 (By Wang Danying) - Zhou Ming, deputy
director of the Investment Promotion Agency under the Ministry of
Commerce, pointed out at the press conference of "2005 Global Investment
Report" that a two-way opening-up pattern featuring both "bringing in"
and "going global" is coming into existence in China.
Zhou said that for 12 consecutive years, China's actually utilized
foreign fund topped other developing countries and regions. Up to the end
of August 2005, over 530,000 enterprises have been set up in China by
investors form nearly 200 countries and regions. From January to August
this year, China approved establishment of 28,393 foreign-funded
enterprises with a contractual foreign fund of US$112.706 billion, of
which US$37.993 billion was actually utilized. At present, registered
foreign-funded enterprises in China have amounted to 280,000 with a
foreign investment of US$245.5 billion. 450 out of the world's top 500
multinationals have invested in China and some of them have built their
regional headquarters in China. Moreover, the number of foreign-funded
research and development organizations has totaled 750 and hi-tech
industry and service trade enterprises are becoming the new hotspots of
foreign investment.
China's direct investment overseas is also rising rapidly. Up to the end
of 2004, China has made US$44.9 billion direct investment in over 160
foreign countries and regions. Zhou added that although China's direct
investment overseas is still at a limited scale and absolute value, it
has been growing sharply. In 2004 alone, China's direct investment
overseas reached US$5.5 billion, surging 93% over 2003, drawing worldwide
attention thereby. China has been regarded as one of the major source
countries of direct investment in the world currently.
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