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FDI investment in China soars during first half of 2003
Beijing, July 16: Notwthstanding the outbreak of SARS Foreign Direct Investment (FDI) to China during the first half of the year rose sharply by 34.33 per cent to 30.26 billion US dollars, surpassing the half-way mark of the targeted record 60 billion USD, an official newspaper reported today.
Beijing, July 16: Notwthstanding the outbreak of SARS Foreign Direct Investment (FDI) to China during the first half of the year rose sharply by 34.33 per cent to 30.26
billion US dollars, surpassing the half-way mark of the targeted record 60 billion USD, an official newspaper reported today.
According to the ministry of commerce, during the January-June period, contractual foreign investment topped 50.958 billion USD, up 40.25 per cent.
During the first six months of the year, 18,877 new overseas-funded enterprises were approved in China, up 22.3 per cent, 'China daily' reported.
By the end of June 2003, china had approved a total of 443,073 overseas-funded ventures, with contracts worth 879.02 billion USD and actual investment of 478.22 billion USD. The FDI inflow in June was hit by the outbreak of Severe Acute Respiratory Syndrome, the paper said citing a mere 2.48 per cent growth during the month.
In June, the total amount of FDI received was 6.98 billion u.S. Dollars, up 2.48 per cent when compared to the same period last year. Also the number of newly established foreign-invested companies totalled only 3,702 last month, up just 0.79 per cent from June, 2002.
Experts said that the SARS outbreak could have cost China one billion in FDI in the second quarter. But they said it will soon come back and China's FDI is still likely to reach its target of 60 billion US Dollars this year.
Contracted foreign investment, an indicator of future trends, rose a still robust 34.67 per cent year-on-year to $ 12.74 billion in June.
Bureau Report
During the first six months of the year, 18,877 new overseas-funded enterprises were approved in China, up 22.3 per cent, 'China daily' reported.
By the end of June 2003, china had approved a total of 443,073 overseas-funded ventures, with contracts worth 879.02 billion USD and actual investment of 478.22 billion USD. The FDI inflow in June was hit by the outbreak of Severe Acute Respiratory Syndrome, the paper said citing a mere 2.48 per cent growth during the month.
In June, the total amount of FDI received was 6.98 billion u.S. Dollars, up 2.48 per cent when compared to the same period last year. Also the number of newly established foreign-invested companies totalled only 3,702 last month, up just 0.79 per cent from June, 2002.
Experts said that the SARS outbreak could have cost China one billion in FDI in the second quarter. But they said it will soon come back and China's FDI is still likely to reach its target of 60 billion US Dollars this year.
Contracted foreign investment, an indicator of future trends, rose a still robust 34.67 per cent year-on-year to $ 12.74 billion in June.
Bureau Report