Foreign-funded firms continue to expand in China

BEIJING - Foreign-funded companies continue to expand their presence in China, as they numbered 449,700 as of the end of September in the world´s second largest economy, government data showed Thursday.

The figure was up 1 percent compared to that at the end of last year, according to figures released by the State Administration for Industry and Commerce (SAIC).

Meanwhile, their registered capital hit 10.77 trillion yuan ($1.7 trillion) as of the end of September, up 3.13 percent compared to the end of 2010.

The data reveals that the nation remains attractive for foreign businesses. The Ministry of Commerce announced earlier that the country attracted $86.68 billion in foreign direct investment (FDI) in the first three quarters of the year, up 16.6 percent year-on-year.

In September alone, the country drew $9.05 billion of actual FDI, up 7.88 percent from a year earlier.

By the end of September, China had more than 12.28 million licensed businesses with a total of 68.96 trillion yuan of registered capital, up 8.07 percent and 15.65 percent respectively from the end of last year, according to the SAIC.