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Mainland records 40% increase in use of overseas investment

(Xinhua)
Updated: 2008-10-10 21:40

BEIJING - China's mainland reported a 39.85 percent surge in the actual use of investment from other areas in the first eight months over the same period last year.

Investment inflow reached US$74.37 billion during the January to September period, the Ministry of Commerce said on Friday.

Zhang Hanya, a researcher with the National Development and Reform Commission, the country's economic planning organ, said the impressive growth indicated China was an attractive investment destination worldwide.

"Enterprises that invest in the country still have confidence in reaping profitable business returns," Zhang said.

The mainland approved the establishment of 20,801 enterprises funded with outside investment in the first nine months, down 26.25 percent from the same period last year.

The figures reflected the endeavor to increase the quality of investments from the outside, Zhang said.

"China is reducing its processing industry scale as part of its effort to upgrade industrial structure, so companies with high-energy consumption and high pollution were refused entry to the domestic market," said the researcher.