Foreign direct investment into China grew by 22 per cent year-on-year in the January to July period of 2002 to reach US$29.54bn, according to Ministry of Foreign Trade statistics. Contracted foreign investment in the period totalled US$54.35bn, up 35 per cent on the same period of last year.
Trade minister Shi Guangsheng told officials that the government expected China's robust economy and cheap labour to attract US$50bn in direct foreign investment this year, provided the world economy avoided a sudden slump, China Daily reported. The minister urged officials to improve China's investment environment to help enhance its attractiveness to foreign investors.
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