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By Hao Zhou (chinadaily.com.cn)
Updated: 2007-07-27 15:31

In the first half this year, growth in overseas investment accelerated significantly in central and western China and especially in the western areas, with an 51.93 percent increase in actually utilized foreign direct investment (FDI), 39.76 percent higher than the national average, said Ma Xiuhong, Deputy Minister of Commerce, at the 4th International Investment Promotion Forum.

Regional disparity has hindered China's sustainable development. Some studies suggested that central and western China have lagged behind eastern areas by eight years in terms of economic development and 10 years in terms of living standards.

As an effort to implement the concerted development strategy, set forth by the 11th Five-Year Plan, the Ministry of Commerce had launched a project, planning to introduce tens of thousands of overseas enterprises to invest in the western part of China.

Ma added that the ministry will continue to support State-level infrastructure construction and optimize the investment environment in Chinese central and western areas.

Meanwhile, the 3rd Expo Central China is scheduled for April 26 to 28 next year, and could be a golden opportunity for Central China's provinces to attract more foreign investment.

Central China includes the six provinces of Shanxi, Anhui, Jiangxi, Henan, Hubei, and Hunan, covering an area of 1.028 million square kilometers and with a population of 361 million.