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China look for

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BEIJING: China is expected to actually use $39.5 billion of overseas investment this year, seven percent more than that in 1995, according to the "China Securities".

The paper quoted experts from the State Economic and Trade Commission as saying that the country will use agreed overseas investment of some $95 billion this year, five percent up over the 1995 figure.

The overseas investment to pour into agriculture will be $700 million, while that into the industry sector and that into the service sector will both be $19.4 billion.

Some $31 billion of the investment will go to coastal areas, which accounts for 80 percent of the total, 10 percentage points lower than the previous rate.

With its proportion of overseas investment in the total to be increased from 10 to 20 percent, the inland areas will attract an overseas investment of $8.5 billion.

In the next few years, more overseas investment will be put into the ten areas, as encouraged by the Chinese government, the experts say.-Xinhua