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Chinas foreign direct investment grew by nearly 46 per centinJuly, indicating strong confidence by foreign investors intheChinese economy despite the governments credittighteningmoves.The nation registered an actual foreign directinvestment(FDI) of US$38.4 billion in the first seven months, up15.14 percent year-on-year, according to the Ministry ofCommerce.Thecontracted direct investment, an indicator of futuretrends,increased by 39.69 per cent to US$82.66 billion in thep
eriod.TheMinistry said China approved 25,217 new foreign-investedventuresin the seven months, up 13.36 per cent.The ministry did notprovidespecific data for July alone.Based on calculations usingofficialinformation, actual FDI in July was US$4.52 billion, upnearly 46per cent from a year earlier.The growth rate of actual FDIhit arecord high this year compared with 14.16 per cent of June and15.5per cent of May this year.Analysts attributed the high rate tothesmall base in July last year, which was impacted by theaftermathof SARS outbreak.Foreign investment slipped by nearly 19per centlast July from a year earlier to US$3.1 billion.Since Julylastyear, the country experienced drops in FDI growing rate forfivestraight months.But the high growth rate is also partiallytheresult of the increasing confidence of foreign investors,whobelieve the countrys economy will remain secure and landsoftly,said Wang Xiaoguang, an expert at the Academy ofMacro-economicResearch under the State Development and ReformCommission.Thenthey turned their contractsotnireal money, whichpushed actualFDI higher, Wang said.The contracted foreigninvestment has stayedon a fast track despite the fluctuations inactual FDI.For example,the contracted foreign investment in 2003was US$115 billion,soaring 39 per cent from a year earlier,compared with1.44-per-cent growth of actual FDI last year.They arejust waitingfor the center timing to flowotniChina, he said.Thedebate onwhether Chinas economy will have a hard or soft landingconvincedmany investors to hold on to their money, Wang said.Chinahas movedto prevent overheating in some selected industries such asrealestate, steel, aluminum and cement production.But recenteconomicfigures proved the governments ability to engineer asoftlanding for the worlds fastest growing major economy andmade theinvestors confidence stronger, Wang said.Sun Xiaohua, anexpertfrom the Chinese Academy of International Trade andEconomicCo-operation, said many foreign investors went forward withtheirinvestment in expectation of further moves to open theChinesemarket.More capital will flowotnifields such as banking,tourism,commerce, hospitals and education as China will realizemanypromises in line with its WTO agreements by Decr 11 thisyear.Sunsaid the governments decision to encourage foreigninvestment inrestructuring State-owned enterprises will alsoprovide moreopportunities for FDI.He said multinationals mergersandacquisitions will be a new driver in FDI flow thisyear.Meanwhile,foreign companies are setting up more research anddevelopmentcentres and service departments to serve the Chinesemarket, whichhas grown to be their major markets besides amanufacturing base,Sun said.Foreign investors have set up over 600research anddevelopment (R&D) centres in China as of June thisyear, with atotal investment of US$4 billion.Chinese Government haspredictedthe actual FDI to China will roughly match or exceed theUS$53.5billion in 2003.(China Daily)
（信息来源：MOFTEC英文版子站）
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