More foreign investment put in large-sized projects, expert

More foreign investment has been injected into China's large-sized projects this year, said Deputy Director Xie Fuzhan of the State Council Development and Research Center Tuesday at a seminar in Beijing.

In 2004, the average foreign investment per project was 3.51 million US dollars, but in the first nine months this year, the volume has risen to 4.04 million US dollars, he said.

Foreign investors now prefer single ventures rather than joint ventures, and foreign investment has concentrated in the electronics, auto and chemical industries, Xie said.

China should establish early-warning mechanisms so as to safeguard national economic security in mergers and acquisitions, and prevent monopoly risks presented by foreign investment, he said.

Now more than 400 of the Top 500 multinational companies have investment in China.

New appraisal systems and standards should be establish to prevent the possible risks brought by foreign investment changes, he said, suggesting China speed up its formulation of anti-monopoly laws.

Source: Xinhua