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Chinese foreign direct investment up sharply PDF Print E-mail
Friday, 14 March 2008

Agence France-Presse . Shanghai

Foreign direct investment into China jumped 75.2 per cent in January and February from a year ago, the government said Wednesday, as Asia’s number two economy remained a top investment destination.

Foreign investment in the first two months of the year, calculated together due to the distorting effects of the Lunar New Year holiday, hit 18.1 billion dollars, the commerce ministry said in a statement.

In February, actual foreign direct investment stood at 6.9 billion dollars, up 38.3 per cent over the same period last year, while in January it rose 109.8 per cent to 11.2 billion dollars.

Capital from US-funded companies increased 43.7 per cent, while fresh capital inflows from the European Union region surged 109.9 per cent. ‘People are still interested in China’s overall economy,’ Wang Tao, Beijing based economist at Bank of America.

‘The Chinese economy is projected to grow at least nine, 10 per cent this year, and in an environment where internationally we’re going to see a lot of slowdown this obviously is a more attractive place for investment,’ she said.

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