China Reports Rise in Foreign Investment

Foreign investment in China rose about 10% in the first quarter as Taiwanese and Western investors offset a regional drop-off due to the Asian financial crisis, the official China Daily reported. The increase also reversed 1997’s trend of falling foreign investment rates. China took in $8.6 billion in foreign investment from January through March, a 9.7% increase over the same period last year. Zhang Shangtang of the China Assn. of Enterprises With Foreign Investment cited improvement in the political and investment climates, including the smooth return of Hong Kong from Britain and more stable relations with Taiwan.