"China's top leaders have highlighted the importance of urbanization, and the growth in the service sector reflects that, with foreign investors realizing the potential."

Huo Jianguo, president of the Chinese Academy of International Trade and Economic Cooperation, a think tank affiliated to the Ministry of Commerce, saying that foreign investment in the service sector had now surpassed that in the manufacturing industry, which saw a 7.1 percent drop in the first 11 months.

"Chinese investment is the cornerstone for our country to maintain a double-digit GDP growth from 2014 to 2105."

Alassane Ouattra, president of Cote d' Ivoire, at the 4th Conference of Chinese and African Entrepreneurs, disputing the notion that some African officials are not in favor of Chinese investments.

"It was only through Facebook that European consumers came to know about Haier."

Sun Shubao, general manager of Haier Europe, said in a recent interview in Global Entrepreneur, a Chinese business magazine. Haier, headquartered in Qingdao, Shandong province, is a leading player in the appliances and electronic goods market. In recent years many Chinese companies like Haier have teamed up with Facebook to increase their presence in overseas markets.

(China Daily 01/04/2013 page19)