Foreign direct investment (FDI) in China is expected to total
about US$57 billion this year, US$4.3 billion more than in 2002,
said Ma Xiuhong, vice-minister of commerce, Monday.
She made the remark at the International Investment Forum 2003,
one part of the Seventh China International Fair for Investment and
Trade (CIFIT).
After 25 years of tireless work in attracting FDI, China has a
larger scope and a more optimized structure to encourage foreign
funds and the quality of investment from abroad in China is
improving continuously, said Ma.
To date, more than 400 of the world's top 500 companies have
launched operations in China, among which nearly 30 have set up
regional headquarters, according to a report from the Ministry of
Commerce at the fair yesterday.
FDI in China hit a record high last year and ranked top in the
world for the first time, said the report.
The country's actual foreign investment in 2002 exceeded US$52.7
billion, a year-on-year increase of 12.51 percent, despite a
decline in global FDI investment.
Also at the forum, Vice-Premier Wu Yi pledged that the Chinese
Government will further improve the investment environment for
overseas business people in China.
While further improving the socialist market economy system, the
country will maintain the continuity and stability of macroeconomic
policies and a basically stable currency.
It will also continue to streamline market conditions,
strengthen its intellectual rights protection and make efforts to
build a more open, equitable, and credible market environment, Wu
said.
To attract more overseas investment, Wu said China will abide by
its commitment of improving its laws and regulations on foreign
investment and strive to provide a stable, transparent and
efficient administrative environment.
While encouraging FDI in China, the country has sought a 'going
global' policy, which has obtained good results, Ma added.
By the end of July 2003, there were 7,222 Chinese-established
non-financial operating organizations in over 160 countries and
regions outside China, with domestic backers contributing a total
investment of over US$10 billion.
The four-day fair opened in Xiamen, Fujian Province, Monday. It
was attended by several senior officials including Wu Yi and chief
executives Tung Chee-hua of Hong Kong and Edmund Ho Hau Wah of
Macao.
It is the first large-scale international investment activity in
the country since the outbreak of severe acute respiratory syndrome
(SARS) in April.
More than 240 overseas delegations representing international
organizations, foreign governments, multinationals, and business
associations have registered for the fair. Delegations of
enterprises and government departments from 31 provinces,
autonomous regions and municipalities on the Chinese mainland are
also attending the fair.
(China Daily September 9, 2003)