Top Biz News

Council set up to promote investment

By Jiang Wei and Hu Meidong (China Daily)
Updated: 2006-07-26 08:20

For example, Zhou said they would continue to provide services to Chinese enterprises after they invest overseas.

By the end of May, China had attracted US$645.4 billion in foreign direct investment from over 200 countries and regions.

And over 9,600 Chinese-funded enterprises had been established in more than 160 countries and regions across the world.

However the country's outbound investment is still small compared to the inbound volume.

The outward investment of Chinese enterprises totalled US$55 billion by the end of May.

The Chinese Government will further encourage enterprises to invest outward, according to Ma.

For example, the government will encourage enterprises to invest in Mexico, expecting them to cash in on Mexico's close economic ties with the United States.

Ma also encouraged domestic enterprises to use the China International Fair for Investment and Trade in Xiamen, East China's Fujian Province, as a springboard to go abroad.

Chinese firms enjoy a competitive edge in investing in some developing economies, in particular in areas like textiles, garments and construction materials, said Zhao Chuang, a Ministry of Commerce official.

"Some Chinese firms are not large scale, but they enjoy good potential, for their technologies are welcomed by the world and are adapted to developing countries," he said.