Foreign direct investment in China was US$48.69 billion in the first nine months this year, up 21 percent year on year, figures from the Ministry of Commerce (MOFCOM) show.

In the January-September period, China approved the establishment of 32,279 foreign-funded enterprises, with a contractual investment of US$107.4 billion, which increased by 35.6 percent on the basis of last year, figures indicated.

By the end of September, China has approved the founding of nearly 50,000 foreign-funded companies with US$1,050.6 billion of contractual investment and US$550 billion actually utilized investment, MOFCOM figures show.

(Xinhua News Agency October 15, 2004)