China reports increase in FDI
China's Ministry of Commerce disclosed that the country's actual foreign direct investment (FDI) rose 9.48% year on year to $13.4 billion in the first quarter of 2005. China's contracted FDI amounted to $35.2 billion in the above-mentioned period, up 4.5% year on year. Chinese government approved the establishment of 9'305 new foreign-funded companies during the first three months, down 9.2% from a year earlier.