Foreign companies pour money into China
Foreign firms invested a record $ 82.7 billion in booming China last year, the government said on Monday, with analysts adding the tide of money had undermined efforts to slow economic growth.
By PTI |
BEIJING: Foreign firms invested a record $ 82.7 billion in booming China last year, the government said on Monday, with analysts adding the tide of money had undermined efforts to slow economic growth.
The 2007 figure for foreign direct investment, was up 13.8 per cent from a year earlier, the commerce ministry said in a statement.
China has been striving to cool its economy over concerns that it could overheat and shudder into a sharp slowdown, but analysts said the nation's still-explosive growth continued to lure foreign firms.
"In-bound FDI is in no way helping the government's efforts to cool the economy, it is actually doing the opposite," said Feng Yuming, a Shanghai-based analyst with Oriental Securities.
The 2007 figure for foreign direct investment, was up 13.8 per cent from a year earlier, the commerce ministry said in a statement.
China has been striving to cool its economy over concerns that it could overheat and shudder into a sharp slowdown, but analysts said the nation's still-explosive growth continued to lure foreign firms.
"In-bound FDI is in no way helping the government's efforts to cool the economy, it is actually doing the opposite," said Feng Yuming, a Shanghai-based analyst with Oriental Securities.
Experts estimate China's economy probably grew about 11.5 per cent in 2007; the fifth consecutive year of double-digit percentage growth.
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