According to the Achievement Report on 30-Year Reform and Opening up released by National Bureau of Statistics today, China has attracted the largest foreign capital in the developing countries for 15 successive years since 1993.
According to the report, before 1992, China’s utilization of foreign capital is mainly foreign loans, especially the government loan; the foreign direct investment had always been small. After 1992, the foreign direct investment has increased year by year and become the most important way of utilizing foreign capital. Viewing from the status of foreign direct investment, in 1983 China’s foreign direct investment was only USD916m, and in 2007 it reached USD74.8b, increasing by 81 times during 24 years; as of the end of 2007, the cumulative foreign direct investment around the country had been over USD770b with an average annual growth rate of 20.1%, much higher than the growth rate of China’s national economy in the same period.
In 2007, China attracted foreign direct investment of USD74.8b, together with the foreign direct investment absorbing from the financial sector, amounting to about USD83.5b, which accounted for 5.4% of the global foreign direct investment and 19% of the developing countries.
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