China Information

Thursday, December 28, 2006

Half of Overseas Investment by Chinese Enterprises Gained Profit

Recently in Guangzhou, an officer of MOFCOM Department of Foreign Economic Cooperation denied the rumor that a large amount of overseas investment by Chinese enterprises had been “wasted”. According to the assessment result of comprehensive performance of overseas investment from MOFCOM, out of the current enterprises set up abroad by Chinese enterprises 50% enterprises have gained profits and 80% are running business normally. On the seminar of Guangzhou enterprises “Going Abroad” sponsored by the Bureau of Foreign Trade and Economic Cooperation of Guangzhou Municipality, Zhao Chuang, counselor of MOFCOM Department of Foreign Economic Cooperation claimed that overseas investment by Chinese enterprises so far has made great achievements, with annual growth of direct overseas investment by 65.6% during “the Tenth Five Years”. The modes of going out adopted by Chinese enterprises include foreign trade, investment, contract and combination, among them most enterprises have gone abroad in the mode of foreign trade.

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