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Foreign investors back profits of US$57.94b in 5 years
2006-09-07
Xinhua
Since China's accession to the World Trade Organization (WTO) in 2001, foreign investors remitted abroad profits of 57.94 billion U.S. dollars from China.
Vice Minister of Commerce Yi Xiaozhun made the remarks here Wednesday at an international symposium on China's entry into the WTO.
During the past five years, China imported goods worth 2.4 trillion U.S. dollars from other trade partners, he said.
The figures show that China's economic growth provided a good opportunity for foreign investors and gave an impetus to the world economy, Yi said.
By the end of last June, 71 overseas banks had built branches in China, and they were allowed to provide Renminbi services for institutional clients in 25 cities, according to figures from the Ministry of Commerce.
Meanwhile, 23 joint-venture fund management companies and seven joint-venture securities companies had been established in the country.
According to China's commitment to the WTO, it will fully open its financial market by the end of this year.
Figures from the World Bank show that since China's accession to the WTO, its economy has contributed 13 percent to the global economic growth.
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