Cumulative FDI exceeds $750b

Updated: 2007-08-28 12:02

BEIJING -- China's actual use of foreign direct investment (FDI) had cumulatively exceeded US$750 billion by the end of June this year since the beginning of its opening-up policy in 1978, according to a senior commerce official.

Vice Minister of Commerce Wei Jianguo said the country had approved the establishment of 610,000 foreign-funded enterprises by the end of June this year.

Related readings:
 FDI up 13% in 7 months
 China posts 13 percent growth in FDI
 FDI grows 50% in western China
Macro: Foreign investment continues to grow

In the first half of 2007, exports of foreign-funded enterprises accounted for 57 percent of the nation's total, said Wei at a forum on  the social responsibility of foreign-funded enterprises.

Currently, more than 28 million people work in these enterprises, or about 10 percent of the employed population in cities and towns of the country.

China actually used US$36.93 billion in FDI in the first seven months of 2007, a growth of 12.92 percent year-on-year, according to the Ministry of Commerce.

Wei said China will unswervingly push forward opening-up and reform  and continue to attract foreign investment in an active and effective way.

China will strive to improve the quality and level of foreign investment, with efforts to adjust industrial structure and guide foreign investment to its relatively underdeveloped central and western regions, according to Wei.

Top China News  
Today's Top News  
Most Commented/Read Stories in 48 Hours