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Chinanews, Beijing, May 10 - With its rapid growth, service trade in China has attracted more and more foreign investment. According to latest statistics, some 75,000 enterprises have absorbed foreign investment, a 106% growth compared with last year.
The focus of international industrial transfer is from raw material industry to process industry, from primary industry to high value-added industry, from traditional industry to new industry, and from manufacturing sector1 to service sector. Knowledge and information have never been more important to industry, especially to financing, insurance, tourism, consulting, etc in the service trade, and to electronics and telecommunications in the processing industry. Due to rise of production factor costs in China, overseas investors2 have become more and more interested in service trade here than in process industry. It can be estimated that hi-tech industries and service trade will absorb even more FDI in the future.
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