China Council for the Promotion of International Trade (ccpit) 2009 Preface



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Chapter 6 External Cooperation of China's Light Industry


China has been successfully attracted foreign direct investment. Attributed to its favorable investment environment, low wages and rapid growth of domestic market in recent years, China has attracted 6.5% foreign direct investment of the world and 25% of the developing countries in the past decade.

China's foreign direct investment is not evenly distributed in every province. The coastal provinces received 90% of the total foreign direct investment. Although, the government policies advocate investing in the west, the western provinces only received less than 2%. Most of the foreign direct investment is concentrated in the industry, which attracted 60% in 1990s. In 2004, 75% of foreign direct investment flowed into industry, of which, 71% on manufacturing. Service industry attracted 20%, most of which concentrated in real estate development. Banks and public facilities are major sectors to attract foreign direct investment in other countries, but they have very limited performance in China. Foreign direct investment in agriculture is almost negligible.

In 2008, China approved 27,514 foreign investment projects, down by 27.35% on a year-on-year basis, much lower than the previous year. The actual inflow of foreign investment reached 95.253 billion yuan, up by 21.59% on a year-on-year basis. It shows not only the reduction of foreign investment project caused by financial crisis, but also the transfer from quantity to quality in applying foreign investment and China's more rationality in approving foreign investment projects. In December, China approved 2,562 foreign-funded enterprises, down by 25.78% on a year-on-year basis. The actual inflow of foreign investment stood at US$ 5.978 billion, down by 5.73% on a year-on-year basis. Over the same period, the number of U.S.-funded enterprises dropped by 32.55% on a year-on-year basis, with a 12.54% increase in realized investment. The number of enterprises funded by the original 15 European Union countries dropped by 22.65% on a year-on-year basis, with a 30.12% increase in realized investment. China's utilization of foreign investment involves mainly in foreign direct investment and wholly foreign-owned enterprises and few in Sino-foreign joint ventures and cooperative enterprises.

Figure 6 156 China's utilization of foreign fund 2008



Unit: US$ 100 million

Way of utilization of foreign fund

Approved projects in 2008

Realized foreign fund in 2008

Projects

2008

2007

Year-on-year growth

2008

2007

Year-on-year growth

Total

27514

37871

-27.35

952.53

783.39

21.59

  1. Foreign direct investment

27514

37871

-27.35

923.95

747.68

23.58

Sino-foreign joint ventures

4612

7649

-39.70

173.18

155.96

11.04

Sino-foreign cooperative enterprises

468

641

-26.99

19.03

14.16

34.40

Wholly foreign owned enterprises

22396

29543

-24.19

723.15

572.64

26.28

foreign-funded joint stocks

38

38

0

8.59

4.92

74.71

  1. Foreign indirect investment

0

0




28.58

35.72

-19.98

Foreign shares

0

0




0.77

4.02

-80.85

International lease

0

0




1.44

1.80

-20.00

Compensatory trade

0

0




0.52

0.18

192.25

Processing and assembling

0

0




25.85

29.72

-13.02

Source: Ministry of Commerce of the People's Republic of China Department of Foreign Investment Administration

In 2008, China attracted actual foreign direct investment of US$ 92.395 billion, up by 23.58% on a year-on-year basis. Among that, 10 Asian countries investment accounted for 59.97%, up by 4.62 percentage points than 2007. Hong Kong invested US$ 41.036 billion, accounting for 44.41%, up by 48.13% on a year-on-year basis. Japan invested US$ 3.652 billion, accounting for 3.95%, up by 1.76% on a year-on-year basis. EU major countries investment accounted for 5.41%, up by 30.12% on a year-on-year basis. North America invested US$ 3.488 billion, accounting for 3.77%, up by 15.76% on a year-on-year basis. Among that, U.S. invested US$ 2.944 billion, accounting for 3.19%, up by 12.54% on a year-on-year basis.

Figure 6 157 Analysis on countries/regions of foreign direct investment 2008

Unit: US$ 10,000



Countries/regions

2008

2007

Growth rate

Proportion in 2008

Proportion in 2007

Proportion growth

Total

9239544

7476789

23.58

 

 

 

10 Asian countries/regions

5540994

4138335

33.89

59.97

55.35

4.62

Hang Kong

4103640

2770342

48.13

44.41

37.05

7.36

Indonesia

16725

13441

24.43

0.18

0.18

 

Japan

365235

358922

1.76

3.95

4.8

-0.85

Macao

581616

63700

-8.7

0.63

0.85

-0.22

Malaysia

24696

39725

-37.83

0.27

0.53

-0.26

Philippines

12687

19532

-35.05

0.14

0.26

-0.12

Singapore

443529

318457

39.27

4.8

4.26

0.54

Korea

313532

367831

-14.76

3.39

4.92

-1.53

Thailand

12921

8948

44.4

0.14

0.12

0.02

Taiwan Province

189868

177437

7.01

2.05

2.37

-0.32

EU major countries

499451

383838

30.12

5.41

5.13

0.28

Belgium

5586

9584

-41.72

0.06

0.13

-0.07

Denmark

29376

12514

134.75

0.32

0.17

0.15

Britain

91401

83094

10

0.99

1.11

-0.12

Germany

90049

73397

22.69

0.97

0.98

-0.01

France

58775

45601

28.89

0.64

0.61

0.03

Ireland

19829

6103

224.91

0.21

0.08

0.13

Italy

49326

34792

41.77

0.53

0.47

0.06

Luxembourg

13283

8246

61.08

0.14

0.11

0.03

Holland

86216

61666

39.81

0.93

0.82

0.11

Greece

1309

235

457.02

0.01

 

0.01

Portugal

829

823

0.73

0.01

0.01

 

Spain

20890

21324

-2.04

0.23

0.29

-0.06

Austria

13255

8234

60.98

0.14

0.11

0.03

Finland

5410

5589

-3.2

0.06

0.07

-0.01

Sweden

13917

12636

10.14

0.15

0.17

-0.02

North America

348762

301281

15.76

3.77

4.03

-0.26

Canada

54328

39658

36.99

0.59

0.53

0.06

United States

294434

261623

12.54

3.19

3.5

-0.31

Some free-trade ports

2314227

2262560

2.28

25.05

30.26

-5.21

Mauritius

149371

133250

12.1

1.62

1.78

-0.16

Cayman Islands

314497

257078

22.34

3.4

3.44

-0.04

Britain Virgin Islands

1595384

1655244

-3.62

17.27

22.14

-4.87

Samoa

254975

216988

17.51

2.76

2.9

-0.14

Others

536110

390775

37.19

5.8

5.23

0.57

Source: Ministry of Commerce of the People's Republic of China Department of Foreign Investment Administration


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