BUSINESS China's FDI in nonfinancial sector grows 0.5% Jan-July

BUSINESS

China's FDI in nonfinancial sector grows 0.5% Jan-July

China Daily

17:08, August 13, 2020

Aerial photo taken on March 18, 2020 shows a container dock of Yangshan Port of Shanghai, East China. (Photo: Xinhua)

China saw foreign direct investment growth in the nonfinancial sector grow 0.5 percent on a yearly basis to 535.65 billion yuan ($77.16 billion) in the first seven months of this year, reaching positive growth for the first time after January this year, said the Ministry of Commerce.

In July, FDI inflows expanded 15.8 percent year-on-year to 63.47 billion yuan, achieving positive growth for four consecutive months.

China will strengthen services and help solve operational difficulties for global companies to stabilize the long-term business confidence of foreign capital against the economic fallout of the COVID-19 pandemic, said Ren Hongbin, an assistant minister at the Ministry of Commerce.

The official's remarks came after the State Council released a guideline on Wednesday to roll out more measures to protect foreign trade entities, support the local growth of global companies and keep supply chains stable.

Under the new government rules, Ren said foreign-funded companies are equally eligible as domestic firms for the existing 1.5 trillion yuan relending and rediscount special quota support provided by the People's Bank of China, or the central bank.

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