ID :
12301
Sat, 07/12/2008 - 12:54
Auther :
Shortlink :
https://oananews.org//node/12301
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Foreign direct investment in China goes up 45.6 percent
Beijing, July 11 (PTI) China attracted foreign directinvestment of USD 52.4 billion in the first half of this year, a robust 45.6 percent jump compared to the same period of the last year, officials said Friday.
Foreign enterprises invested USD 52.4 billion in China from January to June, the Ministry of Commerce said, adding the country's economy grew 10.6 percent year-on-year basis in the first quarter of 2008.
A solid economic growth, a stronger Yuan and declining U.S. dollar were among major factors that contributed to the F.D.I. surge, analysts said.
The ministry said the number of newly-approved foreign-funded companies totalled 14,544, down 22.2 percent from the same period a year earlier. However, China's currency gained 6.5 percent against the U.S. dollar in the first half of the current year.
Chinese forex regulator has urged greater supervision over the inflows of short-term global speculative funds as a large-scale capital flight on rising dollar could undermine the economy and financial security, Xinhua news agency said.
Analysts believe that tens of billions of dollars of "hot money" has entered the country in the guise of trade and investment so far this year, it said.
China's exports increased 21.9 per cent year-on-year to USD 666.6 billion in the first half, while imports rose 30.6 percent to USD 567.57 billion, the General Administration of Customs said Thursday.
Foreign enterprises invested USD 52.4 billion in China from January to June, the Ministry of Commerce said, adding the country's economy grew 10.6 percent year-on-year basis in the first quarter of 2008.
A solid economic growth, a stronger Yuan and declining U.S. dollar were among major factors that contributed to the F.D.I. surge, analysts said.
The ministry said the number of newly-approved foreign-funded companies totalled 14,544, down 22.2 percent from the same period a year earlier. However, China's currency gained 6.5 percent against the U.S. dollar in the first half of the current year.
Chinese forex regulator has urged greater supervision over the inflows of short-term global speculative funds as a large-scale capital flight on rising dollar could undermine the economy and financial security, Xinhua news agency said.
Analysts believe that tens of billions of dollars of "hot money" has entered the country in the guise of trade and investment so far this year, it said.
China's exports increased 21.9 per cent year-on-year to USD 666.6 billion in the first half, while imports rose 30.6 percent to USD 567.57 billion, the General Administration of Customs said Thursday.
