2024-07-07 12:56:19
BEIJINGForeign direct investment (FDI) in the Chinese mainland, actually utilized, stood at 412.5 billion yuan (57.94 billion U.S. dollars) in the first five months of this year, data from the Ministry of Commerce showed on Friday, June 21.
The amount was 28.2 percent lower than in the same period last year, the ministry said on its website.
Despite the decline, 21,764 new foreign-invested companies were established across China in the reporting period, up 17.4 percent, the data showed.
“The scale of foreign investment utilized actually maintains a high historical level,” according to a ministry official, who attributed the reduction mainly to a high comparison base from last year.
The manufacturing sector attracted 28.4 percent or 117.1 billion yuan of total FDI inflows, up 2.8 percentage points from the same period last year, reflecting continuous improvement in the investment structure.
FDI inflows into smart consumer equipment manufacturing and professional technical services rose 332.9 percent and 103.1 percent year on year, respectively.
FDI from Germany and Singapore increased by 24.2 percent and 16.2 percent year-on-year, respectively, the ministry said.
“At present, foreign investors’ expectations and confidence remain generally stable,” the official said, citing the results of a survey of foreign chambers of commerce showing that more than three-quarters of all US, European and Japanese companies in China plan to continue their business in the country.
This year, China has implemented a number of policies to attract foreign investment. In March, the government released an action plan proposing 24 measures, including those to expand market access, promote equal opportunities and facilitate the flow of innovation factors.
With these new policies and measures coming into effect, China’s business environment will become even more favorable and foreign investors will realize that the “next China” is still China, the official added.
By: XINHUA