| No need to worry about China's huge FDI |
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| 2004-12-01 19:47 |
A senior official with China's Ministry of Commerce says there is no need to worry about China's large volume of foreign investment, China Radio International reported Tuesday.
In the past few years, the country has made great achievements in attracting foreign investment, with both the amount and speed exceeding expectations.
The official says this has resulted in some economists worrying that too much foreign investment in China may threaten the country's economic stability and the competitiveness of foreign-owned companies may hurt domestic enterprises.
Rather, he says foreign investment makes great contributions to China's economic development.
It brings in advanced technologies and management experience, and also provides more jobs.
China was the world's largest receiver of foreign investment last year and this year the country is expected to attract over 60 billion US dollars of investment.
(News source: China Economic Information Network, P.R. of China 2004-11-23)
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