The Chinese Ministry of Commerce has released some key figures on the country's foreign trade and investment in the first four months of this year. Both sectors have seen steady increase. Our reporter Wang Hui has the details.
In the first four months, inbound foreign investment climbed steadily. China has utilitised 45 billion US dollars of foreign investment. It has increased by nearly 5% from a year ago. Commerce Ministry spokesman Shen Danyang said there's a rise in investment in high-tech service industries - mainly in sales and retail, scientific research and technological services.
"Foreign investment in the high-tech service sectors is an important marker of improvement in the quality of investment. The figures give us confidence. The investment in the service industry makes up 70% of the total volume of foreign investment in China. The use of foreign investment in high-tech services has increased by 108% from a year ago," he said.
Meanwhile, outbound non-financial foreign direct investment reached up to 60 billion US dollars, 70% more than the same period last year. North America, Oceania and Asia rank as the top three investment destinations. In particular, investment to the United States has doubled compared to last year. While investment to Europe has dropped 43 percent.
With regard to foreign trade, Shen highlighted the processing trade sector in China. It has played an important part in the country's economic growth in the past 30 years. Now, in eastern China, processing trade is experiencing transformation and upgrading. Parts of it have been transferred to nearby countries. But Shen said Beijing wants to keep the industry in China.
"We hope the part that is being transferred from the East, can be transferred to the Central and western part of China. We hope that less will be transferred overseas and the speed of transfer will be slower. We want to keep as much processing trade in China as possible and to keep the roots here," he said.
Shen said the Chinese government will take special measures to help companies in this industry to transform and upgrade, and to keep them in China. He clarified however, that the measures will abide by the rules of the World Trade Organization.