coolday

The chances of China overtaking the United States as the top foreign direct investment (FDI) destination remain slim in the short term, despite robust momentum in Chinese FDI and the narrowing gap with the US in FDI volume, the United Nations Conference on Trade and Development (UNCTAD) said on Thursday.

But China is likely to continue as the second most attractive country for absorbing FDI this year, said Zhan Xiaoning, director of the Investment and Enterprise Division under the UNCTAD, at a press briefing on the release of the 2010 World Investment Report.

China's economic growth remains high and the US continues to be troubled by a high unemployment rate and slowdown in growth.

China in 2009 saw an inflow of FDI worth $95 billion, $34.9 billion less than that of what the US received, according to the UNCTAD.

Still, China's FDI during the first quarter was $43.8 billion, while FDI into the US fell by 60 percent from a year earlier to $46.1 billion during the same period, leaving a gap of $2.3 billion.

"Despite the narrowing gap, we cannot find strong enough proof to show that China could surpass the US as the most attractive destination for FDI in the short and medium term, as there is little possibility that China's FDI will grow by large margins," Zhan said.

According to Wang Zhile, director of the research center on transnational corporations under the Ministry of Commerce, the US enjoys more advantages than China in absorbing foreign investors.

"It has standardized rules and regulations, powerful consumption market and research and development capability and highly talented laborers, all of which are more attractive for investors compared with cheap laborers and high-speed economic growth," Wang said.

China's GDP decelerated during the second quarter of this year to 10.3 percent and the nation is heralding a new wave of wage increases.

But the country remains an attractive FDI destination, barring large fluctuations in the global economy, analysts said.

"China will probably remain as the second largest in terms of FDI volume this year," Zhan said.

Zhan also refuted recent criticism by a few foreign businesses against the Chinese investment environment, emphasizing that "China's commitment to economic transformation and industrial upgrade is having a positive impact on the nation's FDI inflow, rather than driving foreign investment away".

Since 1993, China has turned into the second-largest recipient of FDI after the US. According to the ministry, China's FDI for June increased by 40 percent to $13 billion, the highest single increase since December 2007. Ministry officials said the strong growth will be maintained in the second half if the global economy remains stable.

"Holding onto second place should not be a problem for China, due to China's GDP growth," said Xian Guoming, director of the Center for Transnationals' Studies of Tianjin-based Nankai University.

European Union Commissioner for Trade Karel De Gucht said in Shanghai on Thursday that European companies are increasingly concerned about their business prospects in China due to the effects of the sovereign debt crisis and trade restrictions imposed by Beijing.

Ioana Kraft, general manager of the European Chamber of Commerce in China, said "the problem is that China is slowly trying to close the door (to protect the interests of Chinese companies)".

But Vice-Minister of Commerce Gao Hucheng suggested that "this was not the case" and China is "strongly opposed to protectionism".

According to the UNCTAD, FDI inflow and outflow worldwide this year is forecast to exceed $1.2 trillion, rising from the bottom during the second half of 2009. The figure is set to climb to a "level before the financial crisis" in 2012, reaching $1.6-2 trillion.

China's outbound direct investment will also see rapid growth in the years ahead as it is "high time" that China invested overseas, the UNCTAD forecast.

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China has over 870,000 intangible culture heritage items that need protection, according to a national culture survey, the Beijing News reported Thursday.

The Ministry of Culture did the survey before the opening of the fifth Chinese Culture Heritage Day, which is June 12, said Vice Minister Wang Wenzhang at a press conference Wednesday. China has already invested 1.79 billion yuan on intangible culture heritage protection, Wang said.

When asked whether Fengshui would be included, Wang said that such folk beliefs need in-depth research and group discussions, and that the final decision has not been made.

Fengshui is what ancient Chinese used to explain the nature of the world. It can be regarded as a system that utilizes Yijing (or I Ching), five elements, eight trigrams, and nine flying stars to give guidance on how they affect people's well-being, wealth, etc.

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Curative effect pithy formula of all sorts of flowers


The drifting fragrance of the flowers contend in beauty together, come to decorate in the life garden.

The flowers treat disease, four the five flavours are for you to choose from.

It can be mended warmly that the flavor of the flower of apricot is bitter, the pear flower can reduce phlegm to moisturize.

Edible peach blossom can improve looks, empty worries, fall fire wipe out the money of elm.

Blue spend to clean the breath oilily hotly, the plum blossom can disperse the depressed liver-energy to solve strongly fragrantly.

Arrest blood and restrain and count roses, it has tree peonies that the flat liver steps down.

The clear heat eats the lotus styptically, it is cold that the warm stomach of sweet-scented osmanthus breaks up again.

Scald and adjust the Chinese rose selected, the flowers of the silk tree help you to sleep.

The jasmine flower of fragrant skin of long hair, the wintersweet relieves cough and reduces phlegm again.

Wake up brain tranquilize cordate telosma, invigorate the stomach, stop, vomit colored meal Ge.

The flower of Chinese scholartree is tested to have blood in one's stool in haemorrhoids, the white chrysanthemum makes eyes bright the flat liver again.

Woman menopause selects safflower, period has phoenix celestial beings to pain.

Take the hard safe flower in rhinitis, the honeysuckle flower bud cures jaundice.

Narcissus petal cure infantile convulsion, whet the appetite mouth in it is warm for fragrant-flowered garlic to spend.

The lily moistens the lung and relieves cough again, the winter jasmine can sweat while cleaning the breath.

Treat the apoplexy Christmas flower, the herbaceous peony holds back the overcast and gentle liver.

Join flower make tea, can wake up brain, the lilac cures tracheitis.

Clear away heat repercussive pumpkin spend, broad-leaved epiphyllum fry, take tuberculosis set up.

Bitterly detest the sore swollenly and eat lotuses, treat and vomit and fry against the persimmon flower.

Advise you to use flowers to the ill, happy and boundless that have good health and a long life.

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