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China's Foreign Investment Jumps 45 Percent

Foreign investment in China during the first half of the year rose to $52.4 billion, well above the 18 percent increase reported for all of 2007.

BEIJING (AP) -- Foreign investment in China during the first half of the year rose 45 percent to $52.4 billion, the government said Friday.

That was well above the 18 percent increase reported for all of 2007.

Foreign investment financed the creation of 14,544 businesses in China in the first six months of the year, the Commerce Ministry said in a one-sentence statement. It gave no reason for the sharp increase in investment.

Foreign companies are looking to China's fast-growing consumer market to help drive sales as demand elsewhere slumps. A lot of money is being put into factories, as well as consumer oriented sectors.

The size of individual investments has grown as companies build more factories for high-tech goods.

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