11/16/2004, 00.00
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Foreign direct investment rises 51pc in one year

Beijing (AsiaNews/Agencies) - Foreign direct investment (FDI) on the mainland rose 51 per cent year on year last month to US$ 5.1 billion - pushing the amount for the first 10 months of the year past that for the whole of last year, Commerce Ministry data shows.

Foreign investment contracts signed last month rose 22 per cent from a year earlier to US$ 11.6 billion, the figures showed.

In September, actual FDI surged 42 per cent year on year to US.1 billion while contracted funds were US$ 13.6 billion, up 16 per cent.

In the first 10 months of the year, actual FDI was nearly US$ 53.8 billion, up 23.5 per cent from the same period last year. From January to October, contracted FDI stood at US$ 119 billion, up 34 per cent. Last year the mainland saw a record inflow of US$ 53.5 billion.  

Low cost of manpower, wide infrastructures and stability are the main reasons for the increase of foreign investments. However, Chinese analysts are worried about a parallel increase of the wealth gap which is plunging the country in a season of social clashes and demonstrations.

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