CRI听力:China sees massive foreign investment in first ten months

FDI in the services sector, which accounts for more than 70 percent of all investment, has increased 9-percent so far this year.

Tang Wenhong, head of the Commerce Ministry's Foreign Investment Division says high-tech services, in particular, are showing a lot of interest among foreign investors.

"Among the growth, FDI in high-tech services has skyrocketed 90.2 percent from a year earlier to reach 79.2 billion yuan. Information technology service investment is up 230 percent. Research and development investment is up 45-percent. Foreign money flowing into science and technology is up 60-percent compared to the same period last year. High-tech manufacturing has recorded growth of 92-percent. The medical instrument manufacturing industry has recorded growth of 88 percent."

The same figures show there are now over 600 companies in China with investments worth over 100-million US dollars.

Tang Wenhong says the US and EU are still the biggest investors in China.

"Investments from the United States and European countries continue to grow, which is consistent with the results of the surveys on business confidence we've conducted with the business community from the U.S. and Europe. From Jan. to Oct. of this year, In the first ten months, FDI from the United States has surged 80 percent, while European Union investments are up 42 percent."

Sang Baichuan, professor with University of International Business and Economics, says he believes China will see further growth in FDI, despite some uncertainties.

"China has seen steady FDI growth. The environment for investment is showing positive signs. China has the strength to battling for investments globally. We also have many advantages to attract investment, even when the global investment growth has becomes slow. I predict there will be more growth in foreign direct investment in China in the future during the structural adjustment of the county."

The Chinese government says it remains committed to maintaining a level playing field for domestic and foreign companies.

A number of administrative approvals for foreigners setting up businesses in China have been scrapped in recent years.

The authorities have also rolled out measures such as the "negative list" approach for investments, which tells businesses which areas they CAN invest in, rather than ones they CAN'T.

Investments not on the "negative list" now only require the filing of a business plan, rather than having to go through a direct review by authorities.