Related News
Eastern and coastal area become favorite destination for FDI again
Online Edition
CHINESE eastern and coastal areas became favorite destinations for foreign investors again with cities like Shanghai setting up pilot free trade zones, according to the Ministry of Commerce today.
In the first seven months, foreign investors channeled altogether US$76.6 billion into China, up 7.9 percent year on year with 14,409 new foreign-invested firms being established.
Among the funds, Chinese eastern areas attracted a majority of US$65.4 billion, which grew 10.8 percent on an annual basis.
In comparison, foreign direct investment in central areas lost 7 percent to US$6.7 billion in the January-July period, and that in western areas contracted 7.8 percent to US$4.5 billion.
Lian Ping, chief economist at Bank of Communications, said China's pilot free trade zones, all set up in the country's eastern or coastal areas, were a main reason for foreign investors favoring these places again.
"The experimental policies, especially like the negative list approach, bring fundamental changes in management and make it much easier and transparent for investors," Lian said.
This trend has been taking shape since one year ago. In the first seven month of 2014, foreign investment in China's central areas still led the growth by jumping 17.8 percent, and that in eastern areas and western areas lost 1.1 percent and 13.1 percent respectively.
China (Shanghai) Pilot Free Trade Zone has become a pioneer testing ground for various reforms to rejuvenate the world's second-largest economy since its establishment in 2013. Last year, the pilot areas were expanded to three more cities of Guangzhou (Guangdong Province), Fuzhou (Fujian Province) and Tianjin.
The latest data showed Shanghai's contracted foreign direct investment jumped 1.3 times to US$34 billion in the first half of the year, mainly driven by the funds being injected into its pilot free trade zone.
Shen Danyang, a spokesman at the commerce ministry, said China's foreign direct investment remained stable and with better quality as more funds flowed into the service sector.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
