BEIJING, Jan. 2 (Xinhua) -- Chinese investment in the Philippines hiked 83.6 fold year on year to 48.7 billion pesos (about 6.3 billion yuan) in 2018, reported by The Manila Times citing Ramon M. Lopez, the Secretary of the Department of Trade and Industry (DTI) Philippines.
According to the report, foreign investments approved by the Philippine Board of Investments (BOI) recorded 104 billion pesos in 2018, up 378 percent from the previous year.
Therefore, investment from China is estimated to account for 46.8 percent in total foreign investment in the Philiphines.
(Edited by Wu Shuang, wushuang2018@xinhua.org)
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