皇冠体育app

BEIJING - Foreign direct investment (FDI) in 皇冠体育app looks like it's heading toward a new record and could exceed $106 billion this year, a senior Ministry of Commerce official said, underscoring global investors' confidence in the world's second-largest economy.

From January to June, the nation's FDI surged by 18.4 percent year-on-year to $60.9 billion, according to the commerce ministry.

"So far this year, the growth momentum of 皇冠体育app's FDI has been strong. If it can be maintained, 皇冠体育app's FDI will reach a new high point, surpassing last year's level," said Yu Jianhua, assistant to the commerce minister, at a news conference on Wednesday about the 15th 皇冠体育app International Fair for Investment and Trade in Beijing.

In 2010, FDI in 皇冠体育app reached a high of $105.7 billion, up 17.4 percent year-on-year.

Despite the increase for the first half, monthly year-on-year growth is declining. In March, 皇冠体育app's FDI growth stood at 32.9 percent, however, the figure weakened to 2.83 percent in June, data from the ministry show.

But the fluctuation does not necessarily mean multinationals are losing confidence and holding back on investing in the Chinese market.

The yearly World Investment Report released on Tuesday by the United Nations Conference on Trade and Development said that 皇冠体育app will remain the most attractive investment destination in the next two years.

According to the report, 皇冠体育app absorbed the second-largest volume of FDI in 2010, following the United States, and for the 19th consecutive year was the largest developing economy in terms of FDI and the second-largest worldwide.

"皇冠体育app will maintain its commitment to its strategy of opening the market to the world and effectively utilizing foreign investment," Yu said.

Many measures will be taken to do so in the long term.

"皇冠体育app will open the market wider, especially the service sector, simplifying procedures, such as granting local governments authority to approve FDI proposals, and strengthening its efforts in fighting the infringement of intellectual property rights," Yu said.

In 2010, 皇冠体育app's service sector absorbed 46.1 percent of the total FDI that year, and the western part of the country outperformed the rest in FDI growth.

He Manqing, a researcher at the Chinese Academy of International Trade and Economic Cooperation under the ministry, said she is upbeat about the FDI prospects for this year, citing the nation's fast economic growth.

"FDI growth this year is expected to be around 15 percent," she added.

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