US$570b of foreign funds used by Feb (Xinhua) Updated: 2005-04-10 09:59
Since its opening up to the outside world more than two decades ago, China
has used US$570 billion of foreign funds through the end of February, said an
official with the China Council for Promotion of International Trade (CCPIT).
Wang Jinzhen, deputy secretary general of CCPIT, announced the figure at the
China International Investment and Financing Forum, which began Thursday here in
the capital of northwest China's Shaanxi Province. Wang said China has been the
world's largest recipient of foreign funds over the past 10 years. It used
US$60.6 billion last year.
More than 400 of the world's top 500 multinational corporations have invested
in China, and 30 have set up regional headquarters here. The number of research
and development centers set up by multinational corporations is more than 400.
Wang said, China expects to see an inflow of more foreign funds in the future
with the opening up of more sectors including finance, insurance, securities,
foreign trade, tourism, education and transportation, among
others.
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