| FDI in China tops 63 bln USD in 2006 |
BEIJING, Jan. 15 (Xinhua) -- Foreign direct investment (FDI) used in China in 2006 topped 63 billion U.S. dollars, up 5 percent over the previous year, said Commerce Minister Bo Xilai on Monday.
It reversed a downside trend in the first half of the year, Bo said at a national conference on commerce work held in Beijing.
The exact contractual value of foreign funds was not available at press time.
Bo said China would make effective use of foreign funds and make the service sector a key area to attract foreign investment.
Although China has been the largest recipient of foreign investment among all developing nations for 15 years, there is much to be done to improve both of its quality and quantity, Vice Premier Wu Yi has said.
China is to channel more foreign investment into research and development centers, new high-tech industries, advanced manufacturing, and the energy conservation and environmentally friendly sectors.
At the same time, investment that helps upgrade China's agriculture and traditionally manufacture is also encouraged.
While receiving large amounts of FDI, Chinese companies have been actively investing overseas, said Bo.
The overseas investment of Chinese multinationals totaled 16.1 billion U.S. dollars last year, up 32 percent year-on-year.
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