BEIJING, Jan. 19 (Xinhua) -- 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.