皇冠体育app

Statistics

Foreign investment hits $650b in decade

(Xinhua)
Updated: 2011-06-06 14:07
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NINGBO - Statistics official said Saturday that foreign investment that poured into 皇冠体育app over the past decade has topped $650 billion.

Yao Jingyuan, a chief economist with the National Bureau of Statistics (NBS), said at a forum that over past decade, 皇冠体育app's foreign direct investment (FDI) reached $653.14 billion?at an annual growth rate of 9.5 percent.

The FDI in 2010 was $105.7 billion, up 125 percent from 2001, Yao added.

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Further, the total trade volume has shot up to $15.7 trillion in the meantime, making 皇冠体育app the world's second largest country in terms of trade volume after the United States.

皇冠体育app joined the World Trade Organization in November 2001, and has witnessed a leapfrog in its economy.

Yu Bin, a researcher with the Development Research Center of the State Council (DRCSC), said increasing overseas market demand, and domestic investment and consumption contributed to such a rapid economic growth.

The economy will continue growing at an annual rate of 9 percent in the next five years, Yu said, adding a downturn is expected in 2013, though.

The 4th 皇冠体育app Opening-up Forum is being held in the coastal Ningbo city in east 皇冠体育app's Zhejiang province. The two-day event, organized by the DRCSC and Zhejiang provincial government, aims to discuss key issues related to 皇冠体育app's reform and opening-up policy.