BIZCHINA / Center |
Foreign investment grows in support of new enterprises(Agencies)Updated: 2007-06-20 15:20 The Ministry of Commerce released data from the first five months
of 2007 showing that US$25.26 billion was used in the period to support 15,072
newly established foreign investment enterprises. The dollar amount was a 10%
increase over 2006, although the actual number of new ventures dropped 4%.
These 10 countries contributed 86% of all the money put into new Chinese ventures. These figures show that there is some distortion in the numbers because many Chinese companies are established in Hong Kong, the British Virgin Islands and the Cayman Islands for tax purposes. Because of this, some percentage of the money is coming from domestic sources in China. According to the Ministry of Commerce, the industries receiving the most money were manufacturing (US$6.035 billion), real estate (US$13.461 billion), and rental and business services (US$1.344 billion). (For more biz stories, please visit Industry Updates) |