China will face great difficulties in the introduction of foreign direct investment (FDI) this year, as the world economy is still in a downturn, said a senior trade official.
Hu Jingyan, director-general of the Foreign Investment Administration with the Ministry of Foreign Trade and Economic Co-operation, said yesterday that the world FDI last year was US$700 billion, down about 40 percent from 2000, and the situation would not see significant improvement this year.
But with China's accession to the World Trade Organization and the market opening to the world, the nation would still make some progress in FDI this year, said Hu at a preparatory meeting for the sixth China International Fair for Investment and Trade (CIFIT), the biggest event of its kind in China, to be held in East China's Xiamen city from September 8 through 12.
Shen Danyang, a chief organizer of the fair, said the event would allocate special areas for foreign participants and listed companies. The fifth CIFIT held last September attracted more than 50,000 participants and about US$4.8 billion in foreign investment.
(China Daily January 18, 2002)
