Foreign investments in China indicate increase
According to the data released by Chinese Ministry of Commerce (MOFCOM), foreign investments in China have increased by 23% to $53.8 billion through October against last year after rising up 21% in the first nine months of 2004. The increase in foreign investments is highly related with rising sales. In the same period, retail sales increased to a record level of Yuan 498 billion ($60 billion) in October. Sales of home appliances and audio-visual equipment increased by 14% in October against last year. Again in the same month, sales of food and drink, and clothing increased by 18%; meat and cigarettes increased by 27% and cosmetics increased by 30%.