News : Business : China Says Foreign Investment Jumps

China Says Foreign Investment Jumps

Wednesday, 13-Jun-2007 08:30AM EDT
Story from AP. Copyright 2007 by The Associated Press (via ClariNet)

BEIJING (AP) -- Foreign investment in China rose 9.9 percent in the first five months of this year to $25.3 billion from the same period a year ago, a state news agency reported Wednesday.

Total investment rose despite a 3.75 percent drop in the number of new foreign-Chinese joint ventures approved by the government, the Xinhua News Agency said, citing Commerce Ministry spokesman Yao Shenhong.

China has long been one of the world's top destinations for foreign investment.

The influx of investment, combined with a multibillion-dollar trade surplus, has sent cash flooding through the economy, straining Beijing's ability to contain rising prices.

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