(Xinhua)
Updated: 2008-01-19 22:14

BEIJING -- China absorbed US$74.7 billion of overseas investment last year, official data released on Saturday said.

The country's trade volume jumped from US$620.8 billion  in 2002 to US$2.17 trillion in 2007, official sources said at a national commerce work conference.

Custom tariffs hit 758.5 billion yuan (US$104.5 billion) in 2007 compared with 259.1 billion yuan in 2002.

Foreign-funded enterprises paid 990 billion yuan in taxes last year, accounting for about 20 percent of national tax revenues.

China's overseas' investment is expected to reach US$20 billion in 2007, a seven-fold increase from US$2.5 billion in 2002.

To date, the number of overseas Chinese-funded enterprises is about 120,000, double the 2002 number.