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Forecasts of decline in foreign investments in SAR
9/19/2002 2:51:00 AM
Lingnan University president and SAR contact for the United Nations Conference on Trade and Development (Unctad), Edward Chen, predicts a decline in foreign investments this coming year.
The SAR’s FDI inflow fell 63 percent last year from US$61.9 billion in 2000 to US$22.8 billion (HK$177.84 billion) last year, when a US$24 billion acquisition by China Mobile (Hong Kong) inflated the figure. Yet it still ranked as the world’s second best inward FDI performance economy in Asia-Pacific and 10th in the world.
Despite the effects of the cross-border mergers and acquisitions, which are not doing well with the sluggish global economy, Chen expects that the FDI is likely to expand on the mainland by 10 percent to 20 percent this year, fueled by its robust economic growth and China’s new WTO membership. Chen is optimistic that a rebound is likely in Hong Kong next year.
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