China's FDI increases by 28% in Q1 of 2002

["Ulhas Joglekar" <joglekarulhas@xxxxxxxxxxx>]

Hindustantimes.com

April 14, 2002

China's FDI increases by 28% to $10 bn in Q1 of 2002

AFP
Beijing , 13-04-2002

China's foreign direct investment (FDI) in the first quarter of 2002
increased by 27.5 per cent from the same period last year to $10.1 billion,
state media said on Saturday.

In the same period, investment commitments or contracted FDI, which give an
indication of future investment inflows, reached $17.9 billion during the
first quarter, rising 11.4 per cent from the same period last year, the
Financial News reported.

Last year, China's FDI rose 14.9 per cent compared with the previous year,
according to official figures, with actual FDI rising to $46.85 billion,
while contracted FDI rose 10.43 per cent to $69.19 billion.

China's entry into the World Trade Organization (WTO) late in 2001 is
expected to encourage more foreign companies to invest in China as China
opens its market -- lifting restrictions on investment and lowering
tariffs -- in order to fulfil its agreements for accession.

A UN Conference on Trade and Development in Geneva in January estimated
China will attract the most FDI among Asian countries in the years ahead
because of its WTO entry.

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