China: Foreign Investments Reached $ 650 billion in a Decade

Official statistics show that foreign investment in China over the last decade have exceeded $ 650 billion.

Yao Jingyuan (姚景源), chief economist for the National Bureau of Statistics (NBS), said at the 4th China Opening-Up Forum that over the last decade, foreign direct investment (FDI) in China totaled 653.14 billion dollars With an annual growth rate of 9.5%.

FDI in 2010 were 105.7 billion dollars, up 125% from 2001, said Yao.

In addition, total trade amounted to 15 700 billion during the same period, making China the number two worldwide in terms of trade volume, behind the United States.

China joined the World Trade Organization in November 2001 and since then it has experienced rapid economic development.

According Bei Yu, a researcher at the Development Research Center of the State Council (国务院发展研究中心), the growing market demand, foreign investment and domestic consumption have contributed to such high economic growth.

The Chinese economy will continue to grow on an annual rate of 9% for the next five years, provided Mr. Yu, adding that a slowdown is expected in 2013.

The 4th China Opening-Up Forum was held in the coastal city of Ningbo in the eastern province of Zhejiang. The two-day event, organized by the Development Research Center of the State Council and the provincial government of Zhejiang, aims to discuss key issues on the reform and opening up policy of China.