Foreign investment unaffected by Google, Rio Tinto incidents
By Wang Yanlin |
April 15, 2010, Thursday
|
Print Edition
Print Edition
FOREIGN direct investment in China maintained a steady growth rate in March despite incidents such as Google's exit and the trial of Rio Tinto executives.
Foreign investors allocated US$9.42 billion on the Chinese mainland last month, up 12.08 percent from a year earlier and extending the growth for an eighth straight month, the Ministry of Commerce said yesterday.
The Chinese government approved the establishment of 2,296 overseas-funded companies in March, rising 28 percent year on year.
"The investment climate in China remains amiable for foreign investors," said Li Maoyu, an analyst at Changjiang Securities Co. "The data showed that the recent two cases, which were exploited by some as depicting a deteriorating foreign investment environment, did not shake people's faith in China."
The State Council, China's Cabinet, released new regulations on Tuesday to encourage overseas investment. Under the rules, China welcomes foreign investment in high-tech industries, services sectors, energy-saving and environmental protection but not in polluting and energy-gorging projects.
Last month, Internet search giant Google announced the closure of its search engine on the mainland, and four employees of Australian mining company Rio Tinto were sentenced to prison terms ranging from seven to 14 years on charges of accepting bribes and stealing commercial secre
Responding to doubts about China's investment environment stirred by the two cases, Qin Gang, a Chinese Foreign Ministry spokesman, said earlier this month that the government would always welcome foreign investment and would maintain the mutually beneficial strategy of opening-up.
"China will continue to welcome foreign enterprise investment and create an open, fair and transparent environment for them," Qin said.
According to a recent survey by the American Chamber of Commerce in Shanghai, more than 75 percent of American companies polled in the survey said the business environment in China had either improved or stayed the same over the past six months.
The 12.08 percent growth of FDI in March compared with an increase of 1.08 percent in February and a rise of 7.79 percent in January.
Foreign investment in the first quarter rose 7.65 percent on an annual basis to US$23.4 billion.
Foreign investors allocated US$9.42 billion on the Chinese mainland last month, up 12.08 percent from a year earlier and extending the growth for an eighth straight month, the Ministry of Commerce said yesterday.
The Chinese government approved the establishment of 2,296 overseas-funded companies in March, rising 28 percent year on year.
"The investment climate in China remains amiable for foreign investors," said Li Maoyu, an analyst at Changjiang Securities Co. "The data showed that the recent two cases, which were exploited by some as depicting a deteriorating foreign investment environment, did not shake people's faith in China."
The State Council, China's Cabinet, released new regulations on Tuesday to encourage overseas investment. Under the rules, China welcomes foreign investment in high-tech industries, services sectors, energy-saving and environmental protection but not in polluting and energy-gorging projects.
Last month, Internet search giant Google announced the closure of its search engine on the mainland, and four employees of Australian mining company Rio Tinto were sentenced to prison terms ranging from seven to 14 years on charges of accepting bribes and stealing commercial secre
Responding to doubts about China's investment environment stirred by the two cases, Qin Gang, a Chinese Foreign Ministry spokesman, said earlier this month that the government would always welcome foreign investment and would maintain the mutually beneficial strategy of opening-up.
"China will continue to welcome foreign enterprise investment and create an open, fair and transparent environment for them," Qin said.
According to a recent survey by the American Chamber of Commerce in Shanghai, more than 75 percent of American companies polled in the survey said the business environment in China had either improved or stayed the same over the past six months.
The 12.08 percent growth of FDI in March compared with an increase of 1.08 percent in February and a rise of 7.79 percent in January.
Foreign investment in the first quarter rose 7.65 percent on an annual basis to US$23.4 billion.
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