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China's mainland reported a steady growth of direct overseas investment in the first four months this year, with the volume up more than 50 percent both in terms of contractual and utilized investment.
The Ministry of Commerce said Tuesday that the direct overseas investment on China's mainland from January to April added up to US$30.528 billion in contractual volume, up 50.13 percent over the same period last year.
Materialized overseas investment during the period was US$17.823 billion, up 51.03 percent.
A total of 12,198 new overseas-invested firms were approved during the four months, marking an increase of 34.19 percent.
In April alone, the mainland approved 3,574 new overseas-invested companies, up 28.07 percent. Overseas investment added up to US$7.546 billion in contractual volume, up 27.18 percent. Used overseas investment in the month was 4.737 billion US dollars, up 37.24 percent.
The top ten sources of overseas investment were Hong Kong, the Virgin Islands, the United States, Japan, the Republic of Korea, China's Taiwan Province, Singapore, Germany, the Cayman Islands and West Samoa, which accounted for 86.94 percent of all the investment China's mainland received during the period.
The majority of the overseas investment for the period came in the manufacturing sector, followed by the service sector, according to the Ministry of Commerce.
(Xinhua News Agency May 14, 2003)
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