Foreign investment rise in China

Foreign direct investment in China climbed 10.7% in January from the same period last year as multinationals like Wal-Mart and Coca-Cola expanded their operations in the world's fastest growing economy, the Commerce Ministry said. Investment rose to US$4bn, as 3,563 foreign companies built stores and factories in January while contracted foreign investment, or investment pledged but not yet delivered, rose 27.7% to US$12.8bn, the ministry said. China attracted a record $60.6 billion from foreign investors in 2004.