Foreign direct investment reached USD74.37 bn in the first nine months of 2008, China's Ministry of Commerce said in a statement. This is an increase of almost 40 per cent year-on-year, but the number of established foreign enterprises has dropped by 26 per cent.
From January to September, FDI increased 39.85 per cent to reach
USD74.37 bn, the Ministry of Commerce said on its website.
Interestingly, the number of established foreign-invested companies has
dropped by 26.25 per cent, to 20,801.
"The figures reflected the endeavour to increase the quality of
investments from the outside," state media quotes Zhang Hanya, a
researcher with the National Development and Reform Commission.
"Companies with high-energy consumption and high pollution were refused
entry to the domestic market," he added.
A lower number of companies could mean less FDI in the long run. In
September, FDI inflow stood at USD6.6 bn, well below the monthly
average of USD8.3 bn. However, the FDI total may be misleading. In
previous years, a large proportion of investment into China has come
from BVI-registered companies, often recycling Chinese investment
capital.
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