Foreign direct investment in the Chinese mainland increased remarkably in the first quarter of this year, showing it remains a favorable destination for investment.

The Ministry of Commerce says the number of newly approved foreign funded enterprises was twenty percent greater than during the same period last year, bringing the number to over ten thousand.

Contracted foreign investments and actual use of foreign investments also witnessed a big jump.

So far, the number of the approved foreign funded enterprises has surpassed 470,000 with the actual use of foreign investment being US$510 billion. 

(CRI April 14, 2004)