China receives $74.7 bn in foreign investments in 2007

By Xinhua

Beijing : China received $74.7 billion of foreign investment (FDI) last year, official data released here Saturday said.

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The country’s trade volume jumped to $2.17 trillion in 2007 from $620.8 billion in 2002, official sources said at a national commerce work conference.

Custom tariffs hit 758.5 billion yuan (about $104.5 billion) in 2007 compared with 259.1 billion yuan ($35.7 billion) in 2002.

Foreign-funded enterprises paid 990 billion yuan ($136.7 billion) in taxes last year, accounting for about 20 percent of national tax revenues.

China’s overseas investments are expected to reach $20 billion in 2007, a seven-fold increase from $2.5 billion in 2002.