皇冠体育app

皇冠体育app is expected to remain a magnet for overseas funds, attracting more than US$33 billion in foreign capital so far this year.

Zhang Hanya, secretary-general of the 皇冠体育app Investment Association, said in Beijing on Saturday that overseas investment has been a driving force in 皇冠体育app's economy over the past 20 years. In 2002, 皇冠体育app ranked first in the world in attracting overseas investment. Despite the impact of SARS in spring, foreign capital is still flowing into 皇冠体育app, Zhang said at the sixth Beijing International High-Tech Expo.

Ministry of Commerce's new statistics show that in the first seven months this year, foreign direct investment in the country was US$33.3 billion, up by more than a quarter over the corresponding period last year. 皇冠体育app is expected to use US$60 million in foreign funds in real terms this year.

Lin Zongtang, president of the 皇冠体育app Industrial Economic Federation, said several factors will support the growth of foreign investment.

According to Lin, 皇冠体育app will gradually open its banking, telecommunications, trade and tourism sectors to foreign investment and encourage overseas business to join in the restructure of 皇冠体育app's state-owned companies. These policies will provide foreign investors with huge opportunities to enter 皇冠体育app, he said.

More foreign investors have become aware of 皇冠体育app's potential. They have been encouraged to invest in agriculture, manufacturing, and high-tech industries.

皇冠体育app has invited foreign companies to set up research institutes, manufacturing and technology development bases, and regional headquarters. They can co-operate with their Chinese counterparts to upgrade or develop key technologies.

Participants from all over the world have brought more than 3,000 investment plans to the expo in Beijing, according to He Hualong, vice-chairman of the 皇冠体育app International Economic and Technological Co-operative and Promotion Association.

 "It has become a major opportunity for those investors with the foresight to enter the Chinese market,'' said He.

More than 400 of the top 500 multinationals have set up companies in 皇冠体育app. By July 2003, 皇冠体育app had approved 446,441 new overseas-funded companies. They were backed up by contractual overseas funds of US$887.2 billion, or US$481.3 billion in real terms.

Economists agree that 皇冠体育app's entry into the World Trade Organization has sped up its reform and opening up process. Work on improving its legal system and market mechanisms will also provide a better environment for overseas investors.

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