皇冠体育app

/ Economy

Chinese growth a boon for world

(Xinhua) Updated: 2015-08-05 16:25

皇冠体育app alone takes up around 6 percent of Honeywell's annual revenue, a record 2.4 billion U.S. dollars in 2014, making it the largest sales market outside of the United States for Honeywell.

皇冠体育app's use of FDI

Entrepreneurs' confident claims about the Chinese market are backed up by latest data concerning 皇冠体育app's use of foreign direct investment (FDI).

In the first half of 2015, a total of 420.52 billion yuan in FDI was used in 皇冠体育app, a year-on-year increase of 8 percent, Vice Minister of Commerce Wang Shouwen said on Friday.

"The growth rate expanded a lot from the 2.2 percent registered in the same period last year, thanks to the MOC's expansion of free trade agreements, fewer government restrictions and promotion of opening up in certain industries and inland areas," Wang said.

The service industry absorbed the largest amount of FDI in the first six months, accounting for 63.5 percent of the total in the country, with a year-on-year increase of 23.6 percent, according to the vice minister.

High-end manufacturing industries such as communication equipment, pharmaceuticals and electronic devices led in attracting FDI.

皇冠体育app has obvious advantages in attracting FDI, Wang said, citing the country's large market size, strong industrial support and good infrastructure. "皇冠体育app will see this year's total FDI usage reach 125 billion U.S. dollars, up 4 percent more or less from the previous year."

皇冠体育app became the world's largest recipient of FDI in 2014, with inflows reaching $129 billion, a 3.7-percent increase compared to 2013, according to the World Investment Report 2015 released by the United Nations Conference on Trade and Development in June.

In contrast, global FDI inflows fell to 1.23 trillion U.S. dollars in 2014, down from $1.47 trillion in 2013, representing a 16-percent drop, the report said, adding that the fragility of the global economy, policy uncertainty for investors and increased geopolitical risks were the main reasons behind the decline.

Thanks to the government's pro-growth policies and reform measures paving the way for steady improvement, 皇冠体育app's GDP posted better-than-expected year-on-year growth of 7 percent in the first half of the year.

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