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(CRI English)
Updated: 2007-10-29 14:10

China's Ministry of Commerce says the country receives the most foreign investment among developing nations.

More than 480 of the world's 500 top companies invested in China, and nearly 1,000 research institutions have been set up with foreign investment.

Li Zhiqun, an official from Commerce Ministry, says the trend of foreign investment in China is positive.

"Since 2006, China's structure and quality of absorbing foreign investment has changed in a good way. The percentage of investment in the manufacturing industry reduced for the first time in six years, while that for the service industry increased greatly."

In the first half of this year, foreign taxation, mainly from foreign enterprises, exceeded 500 billion yuan (US$68 billion). This is up by 23.5 percent on the same period last year.

Some 280 thousand people are working in foreign enterprises, which is 19 percent more than that of the end of 2002.

According to the Commerce Ministry, since China joined the World Trade Organization, or WTO in 2001, domestic industries have grasped their chances to learn from international advanced techniques and developed independent innovation.