Actual foreign funding rises
Actual foreign investment in the mainland last year rose 23.72 per cent from 1996 to US$51.93 billion, the China News Service yesterday quoted the Ministry of Foreign Trade as saying. However, two measures for future foreign investment showed sharp drops. Pledged foreign investment, or funds promised in letters of intent, fell 24.1 per cent last year. Contracted foreign direct investment dropped 29.34 per cent to $51.77 billion last year. Actual foreign direct investment for the year rose 8.51 per cent to $45.27 billion. Direct foreign investment does not include funds raised through means such as overseas share issues and international leasing.