From January to September, the country approved 18,585 projects of direct overseas investment, up 18.14 percent, according to Gao Yan, spokeswoman with the Ministry of Foreign Trade and Economic Cooperation Gao Yan said on October 17 in Guangzhou.

During the same period, China had an actual flow of US$32.2 billion of overseas investment, up 20.66 percent.

By September this year, the country has altogether approved 382,930 overseas financed projects, with the contractual overseas investment amounting to US$726.07 billion and the actual inflow of overseas investment standing at US$380.8 billions.

China has also made progress in expanding business overseas, said Gao, adding that Chinese companies have now made investments in more than 160 countries, in businesses ranging from project contracting, labor cooperation, exploration of resources to the processing trade.

(Xinhua News Agency 10/17/2001)