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China has responded to a World Bank report saying the country is one of the most restrictive to foreign investment. Liu Yajun, head of foreign investment at the Ministry of Commerce says the report is unfair.
The World Bank made its assessment based on difficulty in investing across sectors and starting a business, access to industrial land and commercial dispute resolution mechanisms. But Liu say these four aspects are not enough, and factors such as labor cost should also be included. He also says China has opened 100 service sectors to foreign investors, much higher than the average 54 in developing countries.
In the first half this year, China attracted around 51 billion U.S. dollars in non-financial foreign direct investment, almost 20 percent more than the same period last year.