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China's FDI is still down PDF Print E-mail

Wednesday, 16 December 2009

Chinese government approved the establishment of 20,600 overseas-funded enterprises in the first 11 months this year, down 17.44 percent from the same period last year, according to a routine press release by the Commerce Ministry. It approved 2,437 such enterprises in November.

The FDI actually used nationwide in the first 11 months stood at $77.89 billion, down 9.86 percent from the same period of 2008, but was 2.8 percentage points lower than that in the first 10 months.

Investment from the United States and the European Union both dropped 38 percent in November from a year earlier, but that from Association of Southeast Nations (ASEAN) nations surged almost 60 percent year-on-year.

The FDI in China's manufacturing sector rebounded in the first 11 months and accounted for 53 percent of total FDI actually used, showing it was a strong draw for medium and long-term foreign investment.

The government would roll out policies to support investment in the less developed central and western regions, and it would also simplify approval procedures for foreign investors.

 
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