Mon, Jan 16, 2006 - Page 10 News List

Approved China investments decline


The government approved some US$7.96 billion worth of outbound investment in the first 11 months of last year, marking a year-on-year decrease of 13.4 percent, the Directorate General of Budget, Accounting and Statistics (DGBAS) reported on Saturday.

Approved China-bound investment projects had a combined value of US$5.62 billion, a drop of 8.7 percent over the level of the previous year.

However, the combined value of US$2.34 billion of approved investment for countries other than China registered a larger drop of 22.8 percent, the report said.

According to the DGBAS, the lion's share, or 39.7 percent, of approved investments in China between January and November last year was claimed by companies in the electronics sector, amounting to a total projected amount of US$2.23 billion, posing a year-on-year drop of 19.3 percent.

In terms of regions, most of the approved China-bound investment projects were funnelled into Jiangsu Province, southern China, to the tune of US$3.15 billion, or 56.1 percent. Guangdong Province took second place with US$1.13 billion or 20.1 percent.

Meanwhile, the approved inward investments by foreigners or overseas Taiwanese amounted to US$3.12 billion in the January to November period of last year, posing a drop of 5.3 percent in comparison to the same period of the previous year.

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