|
|
Officials dismisses reports of pending rule relaxing FDI |
 |
+ |
- |
17:20, June 23, 2009 |
Report: FDI curbs in real estate may be eased
Used FDI down 20.4% in first five months in China
China to remain a FDI's favorite
Uncertainty overshadows FDI into China - special
"We haven't got any relevant information," said an official at the State Administration of Foreign Exchange (SAFE) against recent reports that the government may relax rules on inward foreign direct investment (FDI) in the real-estate sector.
China's FDI fell for the eighth consecutive month in May. In May alone, investment dropped 17.8 percent to 6.38 billion USD. That is the first continuous all-round drop in statistics for newly approved foreign-funded enterprises, contracted foreign capital and utilized foreign capital since the Asian Financial Crisis in 1998. In the first five months, China's used FDI fell 20.4 percent year on year.
In mid-June 2007, the Ministry of Commerce (MOFCOM) listed a number of measures to ensure control over direct investment of foreign funds in the real estate sector, as the country strives to avoid international speculative money creating bubbles in the sector.
Some recent reports said that the easing curbs on foreign investment in property is among the Ministry of Commerce's 42 proposals to boost FDI to the State Council.
According to the Foreign Investment Department of the MOFCOM, it is possible to relax restrictions on foreign investment, but it is unclear whether restrictions in real estate industry will be involved or not. Even if it is, it may also be concerned with taxation, not necessarily a relaxation of restrictions or facilitation of procedures.
Under the pressure of the global financial crisis, China's FDI will inevitably be affected. However, according to the Economist Intelligence Unit and the AmCham-China's report, China will remain a FDI favorite.
By People's Daily Online
|
|
|
Comment
Tell A Friend
Print Format
Save Article