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Foreign Trade In 2004, total value of imports and exports reached US$1.15 trillion, up 35.7 percent over the previous year. Of this total, the value of exports was US$593.4 billion, up 35.4 percent, and that of imports was US$561.4 billion, up 36 percent. China had a trade surplus of US$32 billion, an increase of US$6.5 billion as compared with that in the previous year.
Foreign Direct Investment (FDI) The year 2004 witnessed the approval
of establishment of 43,664 enterprises with FDI in China, up 6.3 percent
over the previous year; the contracted foreign capital through FDI stood
at US$153.5 billion, up 33.4 percent, and the foreign capital actually
utilized was US$60.6 billion, up 13.3 percent. By the end of 2004, China
had approved the establishment of 508,941 foreign-funded enterprises,
involving US$1.1 trillion of contracted foreign capital and US$ 562.101
billion of paid-in foreign capital.
Overseas Direct Investment In 2004, China's non-financial direct investment overseas totaled US$3.62 billion, up 27 percent over 2003. Of this total, equity investment was US$2.506 billion, accounting for 69 percent, and reinvestment of profits amounted to US$1.116 billion, accounting for 31 percent. By the end of 2004, the accumulative amount of China's overseas direct investment had approached US$37 billion. During the year, 829 Chinese-invested enterprises were established overseas, with approval of the Ministry of Commerce, involving US$3.712 billion in contractual investment by Chinese companies. By sectors, 52.8 percent (US$1.91 billion) of the total overseas direct investment by Chinese companies went to the mining industry; 26.5 percent (US$960 million) to business service; 13.5 percent (US$490 million) to manufacturing; 3 percent (US$110 million) to wholesaling and retailing; and 4.2 percent (US$150 million) to other sectors. By areas, China's non-financial direct investment overseas mainly flowed to Latin America (US$1.67 billion or 46.2 percent, mainly in the Cayman Islands). China's overseas direct investment in Asia (concentrated in such countries and regions as Indonesia and Hong Kong) stood at US$1.396 billion, accounting for 38.6 percent; in Europe (mainly in Germany and Russia), US$308 million or 8.5 percent; in Africa (mainly in Nigeria, South Africa and Madagascar), US$135 million or 3.7 percent; in North America (mainly in the United States), US$62 million or 1.7 percent; and in Oceania (mainly in Australia), US$48 million or 1.3 percent.
Overseas Contract Projects In 2004, the accomplished business volume through contracted overseas engineering projects was US$17.5 billion, up 26 percent, with the volume involved in new contracts being US$23.84 billion, up 35 percent. By the end of the year, China's accomplished business volume through contracted overseas engineering projects had totaled US$114.03 billion, and the total volume of contracts stood at US$156.29 billion.
 Overseas Labor Service Cooperation In 2004, the accomplished business volume through overseas labor service contracts was US$3.8 billion, up 13.4 percent; new contracts signed in the year involved a volume of US$3.5 billion, up 13 percent. A total of 248,000 people were sent abroad to engage in various types of labor services, an increase of 18 percent, bringing the total number of such people working abroad to 535,000 at the end of the year. By the end of 2004, China's accomplished business volume through overseas labor service contracts had totaled US$30.82 billion, the total volume of contracts stood at US$36.11 billion, and a total of 3.193 million people had been sent abroad to engage in different kinds of labor services.
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