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FDI soars for ninth month
By Wang Yanlin |
May 14, 2010, Friday
|
Online Edition
Online Edition
FOREIGN direct investment in China climbed for a ninth month in April, bolstered by China's strong economic performance and the government's relaxed rules to lure investors.
China will remain an attractive destination for foreign funds because of its dynamic economy and people's expectation for a stronger yuan, analysts said.
Foreign investment rose 24.7 percent year on year to US$7.34 billion last month, compared with an increase of 12.08 percent in March, the Ministry of Commerce said today.
The government approved the establishment of 2,047 overseas-funded companies last month, up 21.3 percent from a year earlier.
"Foreign investment in China has been increasing steadily and will continue to grow for a long time because of the great potential in the domestic market," said Li Maoyu, an analyst at Changjiang Securities Co.
"Besides, the Chinese government reinforced its support for foreign investors last month, which led to quicker investment growth."
The State Council, China's Cabinet, released new regulations in April to encourage sound overseas investment. Under the new rules, China will give more support to foreign investors in high-tech industries, services sectors, energy-saving and environmental protection. But polluting and energy-gorging projects in industries running at overcapacity are not wanted.
The central government also allowed local authorities to approve foreign investment projects worth up to US$300 million, compared with the previous cap of US$100 million.
China will remain an attractive destination for foreign funds because of its dynamic economy and people's expectation for a stronger yuan, analysts said.
Foreign investment rose 24.7 percent year on year to US$7.34 billion last month, compared with an increase of 12.08 percent in March, the Ministry of Commerce said today.
The government approved the establishment of 2,047 overseas-funded companies last month, up 21.3 percent from a year earlier.
"Foreign investment in China has been increasing steadily and will continue to grow for a long time because of the great potential in the domestic market," said Li Maoyu, an analyst at Changjiang Securities Co.
"Besides, the Chinese government reinforced its support for foreign investors last month, which led to quicker investment growth."
The State Council, China's Cabinet, released new regulations in April to encourage sound overseas investment. Under the new rules, China will give more support to foreign investors in high-tech industries, services sectors, energy-saving and environmental protection. But polluting and energy-gorging projects in industries running at overcapacity are not wanted.
The central government also allowed local authorities to approve foreign investment projects worth up to US$300 million, compared with the previous cap of US$100 million.
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