Foreign investment in China hits record in 2010

Investment by overseas companies rose 17.4 percent year-on-year, with more than a fifth of the money flowing into the red-hot property sector, commerce ministry spokesman Yao Jian told a regular briefing.
China attracted $14.03 billion in foreign direct investment (FDI) in December alone, up 15.6 percent from a year earlier, Yao added.
"The improvement in the investment environment has become a new driving force of China’s FDI," Yao told reporters.
Blistering growth in the world’s second-largest economy and expectations for a stronger currency have attracted a growing number of foreign investors to China, hoping to get a better return on their money, analysts said.
"The strong full-year FDI figures show that the world is still largely sold on the China growth story, viewing China as a high-growth, high-returns location," said Alistair Thornton, an analyst at IHS Global Insight.
The data were released ahead of key figures due later this week that are expected to show the Chinese economy expanded by a rapid 10 percent in 2010.
Beijing, alarmed by soaring food and property prices, has been trying to reduce the volume of money flowing into the economy as inflation continues to soar -- in November, it rose at the fastest pace in two years.
The large amount of foreign funds into the real estate market -- 22.7 percent of total FDI -- will likely be a "concern" for Beijing, Thornton said.
FDI slowed sharply in August, rising just 1.4 percent year-on-year compared with 29.2 percent in July and 39.6 percent in June.
But in September it picked up again, increasing 6.1 percent year-on-year, while in October it rose 7.9 percent and then leapt 38.17 percent in November.
The data include investment by overseas companies in industries such as manufacturing, real estate, services and agriculture but exclude money put into banks and other financial institutions.
China’s investment abroad in non-financial sectors also hit a record in 2010, rising 36.3 percent on year to $59 billion as the country pumped more money into overseas energy, mining and agricultural projects.
Despite the sharp increase, Yao said China wanted even greater access to foreign markets and highlighted the recent obstacles encountered by Chinese firms when trying to invest in the US steel, manufacturing and telecom sectors.
"China is improving our investment environment and legal system. We hope relevant countries will further open their markets and areas available for foreign investment," he said.
Overseas investment through mergers and acquisitions totalled $23.8 billion, accounting for 40.3 percent of the total.
At the end of 2010, the country’s accumulated overseas investment in non-financial sectors stood at $258.8 billion, Yao said.
Finance

Audit institutions must establish a unified approach to SDGs, says Russian auditor Orlova

Chamber Chairman: Azerbaijan and Kazakhstan reach agreement on parallel audit

South Korea revises Azerbaijan Chamber of Accounts' request for external audit - Lee Mee Hyon

Chamber Chairman: Membership in ASOSAI Board of Directors is both trust and responsibility
NEWS FEED
US withdrawal from mediation may lead to a halt in the flow of weapons to Ukraine
Syrian leader has left Damascus: Media
Belgium halts military exports to Israel
Merz: Ukraine to receive Patriot systems in coming weeks
Slovakia to allow approval of new EU sanctions on Russia on Friday, PM Fico says
Slovakia will not veto 18th package of anti-Russian sanctions — premier
Paris railway station evacuated after gas leak
Earthquake of magnitude 5.7 strikes Chile, GFZ says
Hungarian PM: Meeting of Russian and US presidents needed to settle Ukraine conflict
Türkiye will not allow Syria’s fragmentation: Turkish President Erdogan
Multiple casualties in UK school bus crash, say police
United States to sanction Russia if no deal on Ukraine is made in fifty days — White House
Trump diagnosed with chronic venous insufficiency following leg swelling
Iranian Ambassador: We expect that deepening of Armenia-Europe relations will also have positive impact on Yerevan-Tehran relations
Azerbaijani President made post on events held with participation of counterpart from Turkmenistan
White House: After church strike, Trump called Netanyahu, who has agreed to state it was a mistake
President Ilham Aliyev and Gurbanguly Berdimuhamedov had joint dinner in Shusha
Another renovated courtyard under "Our Courtyard" project opened for residents' use-PHOTO
Slovenia declares two Israeli ministers persona non grata
Victims injured and taken captive by Armenian armed forces testify in court
Zelenskyy and Trump discuss 'mega deal': US arms in exchange for Ukrainian drones
Media: Shahin Shikhlinsky, leader of Azerbaijani diaspora in Yekaterinburg, put into wanted list
Pope Leo says he hopes to visit Türkiye later this year
UK, Germany sign friendship treaty, deepening ties in face of threats
Fire at Iraq mall kills 69, prime minister orders probe-UPDATED-1
Azerbaijan MES: Fire near Hochaz and Mollalar villages in Lachin district fully extinguished -PHOTO-VIDEO-UPDATED-1
IDF confirms Lebanon drone strikes, says 2 Hezbollah members killed
Ukrainian embassy demands justice over Malaysia Airlines and AZAL plane crashes
Telegram to open representative office in Russia
Azerbaijani deputy justice minister meets with Vietnamese counterpart to discuss legal cooperation
Zakharova: Russia is ready to respond to any scenario in Transnistria
Istanbul Governor calls on foreign countries regarding FETO terrorist organization
Russia warns it may target military sites in countries enabling Ukraine’s strikes
Ukrainian parliament approves ex-PM Denys Shmyhal as defense minister
Turkish President discussed Israeli attacks with Syrian Interim President Ahmed al-Sharaa
IDF soldier charged with spying for Iran, sending footage of rocket impact sites
Head of Presidential Administration of Azerbaijan meets with delegation from UAE Accountability Authority
Trial begins for Miradalat Talishkhanov, detained by SSS over public anti-state calls
Prime Minister: Tbilisi will not repeal laws preventing revolutions at the request of EU
Beşiktaş officially gives up on Kyle Walker-Peters after repeated delays
7,549 crimes committed in Baku this year
CNN: Russia tightens its stranglehold on Ukraine battlefield
Starmer and Merz sign UK–Germany treaty on defense and migration
Armenian and Iranian security chiefs discuss regional communications and security cooperation
Audit institutions must establish a unified approach to SDGs, says Russian auditor Orlova
Chamber Chairman: Azerbaijan and Kazakhstan reach agreement on parallel audit
Azerbaijani citizen held captive in Armenia: I was tortured and beaten
France hands over its last two military bases in Senegal to local government
43 more families relocated to Kangarli village in Aghdam district get house keys -PHOTO-UPDATED
Karabakh horse named “Dostlug” presented to Gurbanguly Berdimuhamedov at Jidir Duzu plain