China absorbed 74.7 U.S. billion dollars of overseas investment last year, official data released here on Saturday said.

The country´s trade volume jumped from 620.8 billion U.S. dollars in 2002 to 2.17 trillion U.S. dollars in 2007, official sources said at a national commerce work conference.

Custom tariffs hit 758.5 billion yuan (about 104.5 billion U.S. dollars) in 2007 compared with 259.1 billion yuan in 2002.

Foreign-funded enterprises paid 990 billion yuan in taxes last year, accounting for about 20 percent of national tax revenues.

China´s overseas´ investment is expected to reach 20 billion U.S. dollars in 2007, a seven-fold increase from 2.5 billion U.S. dollars in 2002.

To date, the number of overseas Chinese-funded enterprises is about 120,000, double the 2002 number.

Source: Xinhua