BUSINESS China's stable, prosperous economy draws more foreign investment


China's stable, prosperous economy draws more foreign investment

China Daily

02:09, May 22, 2019


Containers are organized in stacks at the Yangshan Deep Water Port, part of the Shanghai Pilot Free Trade Zone in Shanghai. (Photo: VCG)

The high-quality development of the Chinese economy, as well as the country's ongoing reform and opening-up, has continued to attract foreign investment in the first half of the year, People's Daily reported.

The Shanghai Municipal Government issued on May 6 certificates of regional headquarters and R&D centers to 27 overseas companies, including Apple, Honeywell and Nike, indicating more multinationals are expanding their businesses in China. Investment guru Warren Buffett also said his company Berkshire Hathaway would add more investment to China at a shareholder meeting early this month in the US.

Statistics from the Beijing Municipal Commerce Bureau showed that, in the first quarter, the capital attracted 45 foreign enterprises ranging from information transfers to software and information technology services, up 50 percent year-on-year, with actual use of foreign capital reaching $1.29 billion, up 3.1 times on a yearly basis.

According to statistics from the Ministry of Commerce, China set up 13,039 new foreign-funded enterprises through April this year, and the actual use of foreign capital reached $45.14 billion, up 6.4 percent year-on-year.

High-tech manufacturing and the service industry stand out as highlights in foreign investment in the first four months, with the actual use of foreign capital of the former reaching 33.4 billion yuan ($4.83 billion), up 12.3 percent, and that of the latter up 73.4 percent to 52.5 billion yuan during the same period.

Major countries investing in China sustained their efforts at a higher pace during the Jan to April period, with investment from South Korea and Germany increasing 114.1 percent and 101.1 percent respectively. Actual investment from the EU grew 17.7 percent during the same period, and the ASEAN countries invested in 437 new enterprises, an increase of 33.6 percent.

Countries involved in the Belt and Road Initiative established 1,050 new enterprises in China in the first four months, a growth of 23.5 percent, and the trade volume between China and these economies exceeded $6 trillion in the past six years.

The central and western regions of China, as well as the country's free trade zones, witnessed a steady increase of foreign investment through April, with the actual use of foreign capital in the western region up 9.6 percent to 21.2 billion yuan, and that of the free trade zones up 11.8 percent.

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