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Top global companies plan more investment
(Shenzhen Daily/Agencies)
Updated: 2005-01-19 15:00
China's Ministry of Commerce said 82 percent of the world's leading firms
would increase their investment in China in the next three years, attracted by
the country's rapidly growing economy.
The results were released by the Chinese Academy of International Trade and
Economic Cooperation under the ministry, which conducted a survey of Business
Week's top 1,000 global firms in the second half of last year.
The Ministry of Commerce found that 57 percent of the surveyed companies
preferred sole investment to forming joint ventures in China.
In terms of product research and development, 61 percent of multinational
firms interviewed said they would inject more capital into China, while 46
percent said they prefer to set up solely-funded R&D centers, according to
the report.
Large international companies are mainly attracted by the country's huge
markets in many industries and their high growth rates.
The report said that China's total IT market value in 2004 was estimated at
US$242.4 billion, accounting for 38 percent of the IT market in the Asia-Pacific
region, against a share of 30.8 percent a year earlier.
The number of cars on China's roads in 2005 will rise 30 percent year on year
to 8.5 million units.
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