Foreign investment in China up 12.8% to $41.95 billion in Jan-Aug 2007

China foreign direct investment had increased 12.8% to US$41.95 billion in the first eight months this year according to the Ministry of Commerce.

The country approved the establishment of 24,848 foreign-funded companies in the same period, down 5.26 percent from the previous year, said the ministry. In August, the establishment of 3,150 foreign-funded firms were approved, down 8.83 percent year-on-year, while foreign direct investment had increased 11.87 percent to US$5.02 billion.

China's cumulative foreign direct investment had exceeded US$750 billion by the end of June this year since the beginning of its opening-up policy in 1978. Currently, more than 28 million people, or about 10 percent of the employed population in cities and towns of the country, work in foreign-funded enterprises.

Source - Xinhua