News : Business : China: Foreign Investment Up 12.8 Pct.

China: Foreign Investment Up 12.8 Pct.

Thursday, 13-Sep-2007 04:10AM EDT
Story from AP. Copyright 2007 by The Associated Press (via ClariNet)

Associated Press/AP Online

BEIJING - Foreign investment in China rose 12.8 percent to $42 billion in the first eight months of this year, the Commerce Ministry said Thursday, despite new limits on investment in real estate and acquisitions of Chinese companies.

Investment growth from January to August was down slightly from the 12.9 percent increase reported through July.

Foreign investment in the month of August was $5 billion, up 11.9 percent from the same month last year, the Commerce Ministry said.

Beijing surprised investors last year by imposing limits on foreign investment in real estate and tighter restrictions on foreign purchases of Chinese companies.

The government says it is trying to cool an overheated economy and protect national security. But foreign business groups complain some restrictions appear to be an attempt to shield Chinese companies from competition in violation of Beijing's promise to open its markets.

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