Volkswagen Tops List of Overseas Investors in China

02/02/2005

Shanghai's Volkswagen has surpassed Motorola to rank first on a list of the top 500 overseas companies to invest in China in 2004.

Figures from the Ministry of Commerce indicate that Volkswagen's sales revenue in China last year was about 57 billion yuan or 7 billion US dollars, a 30 percent rise over 2003.

The top ten overseas enterprises included General Motors, HP, and Dell.

Guangdong and Shanghai are still the favored destinations for outside investment, housing 135 and 101 overseas companies respectively.

Overseas firms in China come from a range of 30 countries and regions but Hong Kong companies overwhelmingly top the list, with over 170 holdings on the Chinese Mainland.