 |
|
Chinese
investment overseas on the rise: minister (11/13/2002)
China has achieved initial success in implementing its "go-out
strategy", which encourages domestic enterprises to invest
overseas, giving a push to the growth of export-oriented economy,
said Shi Guangsheng, minister of Foreign Trade and Economic Cooperation,
in Beijing Wednesday.
"By the end of June this year, China had set up 6,758 enterprises
overseas with a total investment of US$13.2 billion, of which US$8.9
billion was Chinese capital," said Shi at a press conference
hosted by the media center for the ongoing 16th National Congress
of the Communist Party of China (CPC).
Meanwhile, the total business volume for China's overseas project
contracting and labor cooperation projects had reached US$97. 2
billion, with 475,000 Chinese working overseas in various service
export projects at the end of June, a sharp increase of 432,000
compared with the figure at the end of 1989, he added.
The minister said that the areas in which China has made its overseas
investment have expanded from trade, shipping and restaurant business
to manufacturing and processing, resource exploitation, project
contracting, agricultural cooperation and research and development.
The modes of overseas investment by Chinese enterprises, which
in the past only opened some overseas representative offices, now
vary from setting up plants to export China-made equipment and materials,
trans-national acquisition and merger, overseas stock listing to
establishing overseas research and development centers or industrial
parks, Shi noted.
Chinese personnel sent to work overseas in service export projects
used to be ordinary laborers and technicians, but now they include
all kinds of professionals like hi-tech engineers and senior managerial
staff, he added.
(Xinhua)
|
|
