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BEIJING, Sept. 6(Xinhuanet)  - China bucked international trends in both outbound and inward investment, official figures have revealed.China now ranks as the fifth largest global investor in outbound direct investment (ODI) with a total volume of .5 billion, compared to a ranking of 12th in 2008, the Ministry of Commerce said on Sunday.On top of this, foreign direct investment (FDI) this year was set to "surpass 0 billion", compared to billion last year, ministry officials predicted.Globally, foreign investment decreased by almost 40 percent last year amid the financial downturn and is expected to show only marginal growth this year.The growth in both outbound investment from, and inbound investment to, China reflects the nation's rising economic power and attractiveness as an investment destination. China's annual outbound direct investmentThe ministry made the announcements during a press conference held in Xiamen on the upcoming United Nations Conference on Trade and Development (UNCTAD) World Investment Forum and the 14th China International Fair for Investment and Trade. Both forums will start on Tuesday.According to the ministry, China's ODI grew by 1.1 percent from a year earlier to .53 billion, which includes investment of .8 billion in non-financial sectors worldwide, up 14.2 percent year-on-year.Last year was the eighth consecutive year that the nation's ODI had grown. In this period the average annual growth rate stood at more than 50 percent."China is now the fifth largest investing nation worldwide, and the largest among the developing nations," said Shen Danyang, vice-director of the ministry's press department.In 2009, global ODI volume reached .1 trillion, and China contributed about 5.1 percent of the total.But "this is just a beginning." Although the figure is already "quite amazing," the volume is "not large enough" considering China's economic growth and local companies' expanding demand for international opportunities, Shen said."The growth rate (for ODI) in the next few years will be much higher than previous years," Shen said, without elaborating.China's ODI growth witnessed strong momentum this year. From January to June, the ODI in financial sectors was up by 43.9 percent to .84 billion, and in July alone, the ODI recorded .91 billion, the highest this year.Liu Zuozhang, director of the investment promotion agency under the commerce ministry, told China Daily that China's ODI in non-financial sectors would probably grow to billion this year.But while more Chinese companies were investing overseas, barriers and protectionism against Chinese investment were strengthened as well.Fan Chunyong, standing deputy chief of the China Industrial Overseas Development and Planning Association, said the challenge would not affect the upward trend of the ODI."China's ODI will go up to 0 billion in 2013, and the Chinese accumulative overseas investment will reach 0 billion by then," said Fan.According to the ministry, by the end of 2009, 13,000 Chinese enterprises had invested in 177 nations and regions worldwide, and the largest volume of funds went to the Asia-Pacific region. Europe and Africa ranked second and third in absorbing Chinese investment.Figures also revealed that more Chinese enterprises were focused on developed nations and emerging markets. During the first half of the year, China's ODI to the United States and the European Union rocketed by 360 percent and 107.2 percent respectively year-on-year. And investment into ASEAN and Russia grew by 125.7 percent and 58.5 percent.Jinny Yan, economist from Standard Chartered Shanghai, predicted that the EU would continue to be a hotspot for China's outbound investment in the coming months thanks to the ongoing European debt woes.As for FDI, Shen predicted it would reach a record high of 0 billion this year as China's consumption capacity gradually picked up and the nation's efforts on creating an open and transparent investment environment paid off.Responding to recent complaints by foreign businesses on the "worsening" investment environment, he said it "highlights foreign businesses are attaching more importance to the Chinese market".A report by the European Chamber of Commerce released last Thursday said China had made progress on improving its investment environment, but still needed to do more, especially on market access and the regulatory environment.While global FDI slumped by almost 40 percent last year, China's FDI was down by a mere 2.6 percent, according to the UNCTAD. China remained the second largest recipient nation of FDI, following the US.During the first seven months, China's FDI increased by 20.7 percent to .35 billion, and FDI in July surged by 29 percent.Zhan Xiaoning, director of the investment and enterprise division under the UNCTAD, said China was taking the leading role in the FDI recovery worldwide, even though FDI growth was not a cause for optimism globally.

BEIJING, Sept. 21 (Xinhua) -- China's top political advisor, Jia Qinglin, Tuesday called for greater efforts to develop the economies of ethnic minority areas.Jia, chairman of the National Committee of the Chinese People's Political Consultative Conference, made the remark at the closing ceremony of a seminar on ethnic minorities work for provincial- and ministerial-level officials in Beijing Tuesday.Ethnic minority issues are important and the Communist Party of China (CPC) must properly handle them while governing the country, said Jia, who is also a Standing Committee member of the Political Bureau of the CPC Central Committee.He said officials must unswervingly implement CPC Central Committee policies concerning ethnic minority issues.He urged officials to improve the livelihood of ethnic minority groups and promote unity among China's different ethnic groups.In properly handling ethnic minority issues, the key is to strengthen the Party's leadership and enhance the abilities of officials at all levels, he said.Vice Premier Hui Liangyu also attended the closing ceremony.

SHANGHAI, Oct. 7 (Xinhua) -- The Shanghai municipal government issued new rules Thursday limiting families to one new apartment purchase, as the nation tries to curb property speculation and soaring prices."One family in Shanghai, whether local or immigrant, can only buy one new home, including a second-hand one, for the time being," said a circular released by the municipal government.The new rule came into effect Thursday. The Chinese capital, Beijing, introduced the same measure on April 30.Shanghai authorities also ordered banks to suspend loans for third-home buyers and non-local buyers who could not prove they had paid personal income taxes or made social security contributions in the city for at least one year, the circular said.Local authorities would also start preparing for the introduction of a property tax, it said, without providing further details.A land-appreciation tax of 5 percent on the selling price would also be imposed on property developers if they sold residential buildings at an average price that was more than twice the average price of the previous year in the same area.Shanghai's new rules follow a series of measures announced by the Chinese central government in late September to check soaring property prices.The measures included the suspension of bank loans for third-home purchases in the near future and an adjustment in down payments for all home buyers.All home buyers will have to pay a down payment of at least 30 percent of the purchase price, according to the new rules.Previously, according to rules issued on April 17, only first-time buyers purchasing an apartment covering more than 90-square-meters had to pay a 30 percent down payment.On the same day, sources within several departments of the central government told Xinhua that property tax pilot programs will be stepped up and then extended across the entire country.

ALMATY, Sept. 9 (Xinhua) -- Senior Chinese commander Chen Bingde said Thursday that China and Kazakhstan will further enhance their military cooperation to ensure regional security.During a meeting with Saken Zhasuzakov, first deputy defense minister and chief of the staff of Kazakhstan's armed forces, Chen thanked the Kazaks for their efforts to prepare the upcoming "Peace Mission 2010" anti-terror drill.Chen, chief of the General Staff of the Chinese People's Liberation Army (PLA), also thanked them for their support of the participating Chinese troops.The Sept. 9-25 anti-terror drill, the seventh of its kind under the framework of the Shanghai Cooperation Organization, is an important move to implement the consensus reached by the heads of state of SCO countries, said Chen.Chen Bingde (R), chief of the General Staff of the Chinese People's Liberation Army, meets with Saken Zhasuzakov, first deputy defense minister and chief of the staff of Kazakhstan's Armed Forces, in Almaty, Kazakhstan, Sept. 9, 2010. Chen visited Almaty on Thursday to attend the opening ceremony of the "Peace Mission - 2010" anti-terrorism military exercise, which is launched under the framework of the Shanghai Cooperation Organization in south Kazakhstan from Sept. 9 to 25.The exercise will significantly contribute to eliminating the Three Evil Forces of extremism, separatism and terrorism, promoting regional security and deepening SCO-wide cooperation, Chen said.Noting that profound changes are taking place in Central Asia, Chen said the security situation in the region concerns the core interests of both China and Kazakhstan because the former is a neighbor of the region, while the latter is a large player inside it.The Three Evil Forces are a big public hazard to the international community, especially to Central Asia, the senior Chinese commander said, adding that Beijing and Almaty, both as SCO members, play a key role in maintaining regional security.Through in-depth cooperation, the two sides have made great contributions to the common fight against the Three Evil Forces and the maintenance of regional peace, Chen said.He said that military cooperation between the two countries has been growing continuously since they established diplomatic ties 18 years ago. Remarkable achievements have been made, he said, in high-level contacts, strategic consultations, technological exchanges, border defense exchanges and personnel training.The two countries will strengthen the friendly cooperation between their militaries, strive to maintain the sound momentum of high-level military exchanges and promote exchanges and cooperation in professional fields, Chen said.Zhasuzakov, for his part, said that Kazakhstan, as the current SCO chair, will make active efforts to advance the further development of the bloc.He spoke highly of military relations between China and Kazakhstan, saying defense cooperation between the two sides has been fruitful.He also expressed gratitude to China for its support of Kazakhstan's military build-up and personnel training.The Three Evil Forces constitute a grave threat to regional security and stability, Zhasuzakov agreed, adding that his country attaches great importance to bilateral and multilateral anti-terror cooperation.Kazakhstan is ready to join China and other SCO members in making positive contributions to the battle against the Three Evil Forces, he added.Chen arrived here Thursday morning to attend the opening ceremony of the "Peace Mission 2010" exercise, which is to be staged in south Kazakhstan with the involvement of 5,000 troops from China, Kazakhstan, Kyrgyzstan, Russia and Tajikistan.

BEIJING, Aug. 28 (Xinhua) -- China's top legislature on Saturday approved an amendment to the Basic Law of the Hong Kong Special Administrative Region regarding the method of selecting Hong Kong's Chief Executive.The amendment to Annexes I to the Basic Law was approved at the bimonthly meeting of the Standing Committee of the National People's Congress (NPC), the top legislature, which ended Saturday.The NPC Standing Committee approved an examination report on an amendment to Annexes II of the Basic Law concerning the formation of the city's Legislative Council and agreed to file it on the record.The NPC Standing Committee's concluding meeting was presided over by Wu Bangguo, chairman of the NPC Standing Committee.The two amendments would take effect after the legislature's approval, Wu said.Wu said the two amendments had embodied the common opinions among the Hong Kong communities, gone through due procedures in the laws and was in accordance with interpretations and decisions of the NPC Standing Committee.The two amendments would help to maintain and promote the long-term prosperity and stability in Hong Kong, Wu said.The NPC Standing Committee members had called for unswervingly following the principle of "one country, two systems" and the Basic Law, to push forward a gradual promotion of Hong Kong's political system, Wu said.Legislators at the session also adopted the People's Mediation Law and the amendment to the Law on Officers in Reserve Forces.Further, President Hu Jintao signed decrees to publish the new Law, which will come into effect in 2011, and the amendment to the Law on Officers in Reserve Forces, which will be implemented after its being published.The legislature also ratified the International Convention for the Suppression of Acts of Nuclear Terrorism.During his speech at the concluding meeting, Wu also said the situation of China's economy was in a crucial stage from recovery to a steady growth.However, he noted that the work to maintain satisfactory growth was still an arduous job.Wu also said he appreciated the reports on cleaner production inspection and grain safety work, which were presented during the session.The NPC Standing Committee also appointed Chen Jianguo and Shi Zongyuan as vice chairmen of two special committees under the NPC.