Profits of US$57.94b from China sent back (Xinhua) Updated: 2006-09-07 06:39
Since China's accession to the World Trade Organization (WTO) in 2001,
foreign investors remitted abroad profits of 57.94 billion U.S. dollars from
China.
Vice Minister of Commerce Yi Xiaozhun made the remarks here Wednesday at an
international symposium on China's entry into the WTO.
During the past five years, China imported goods worth 2.4 trillion U.S.
dollars from other trade partners, he said.
The figures show that China's economic growth provided a good opportunity for
foreign investors and gave an impetus to the world economy, Yi said.
By the end of last June, 71 overseas banks had built branches in China, and
they were allowed to provide Renminbi services for institutional clients in 25
cities, according to figures from the Ministry of Commerce.
Meanwhile, 23 joint-venture fund management companies and seven joint-venture
securities companies had been established in the country.
According to China's commitment to the WTO, it will fully open its financial
market by the end of this year.
Figures from the World Bank show that since China's accession to the WTO, its
economy has contributed 13 percent to the global economic
growth.
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